Vancouver, British Columbia--(Newsfile Corp. - June 2, 2020) - SKRR Exploration Inc. (TSXV: SKRR) ("SKRR" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement of up to 10,000,000 units (each a "Unit") at a price of $0.25 per Unit for gross proceeds of up to $2,500,000 (the "Private Placement"). Each Unit will be comprised of one common share and one-half of one common share purchase warrant (each a "Warrant"). Each whole Warrant is exercisable to purchase one common share of the Company at a price of $0.50 per share for a period of 18 months from the date of closing of the Private Placement.
The Private Placement is subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. Finder's fees may be payable in connection with the Private Placement, all in accordance with the policies of the TSX Venture Exchange and applicable securities laws.
The net proceeds from the Private Placement will be used for future exploration work on the Company's properties, corporate development, and general corporate and working capital purposes.
About SKRR Exploration Inc.: SKRR is a Canadian-based precious metal explorer with properties in Saskatchewan - one of the world's highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class precious metal deposits. The Trans-Hudson Orogen - although extremely well known in geological terms has been significantly under-explored in Saskatchewan. SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Cautionary Statement Regarding Forward Looking Information
This news release includes certain statements that constitute "forward-looking information or statements" within the meaning of applicable securities law, including without limitation, SKRR's plans for its properties/projects, the private placement and use of funds, other statements relating to the technical, financial and business prospects of SKRR, and other matters.
This news release contains "forward‐looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements that address SKRR's plans for its properties/projects, the private placement and use of funds, other statements relating to the technical, financial and business prospects of SKRR, and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to obtain the necessary equipment or machinery, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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