/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, Jan. 20, 2021 /CNW/ - Barsele Minerals
Corp. (TSX.V: BME) (the "Company" or
"Barsele") is pleased to announce that the Company intends
to undertake a non-brokered private placement financing (the
"Offering") to raise aggregate gross proceeds of up to
$2.0 million from the sale of up to
3,076,924 common shares of the Company (the "Shares") at a
price of $0.65 per Share.
The Company intends to use the net proceeds from the Offering
for working capital requirements and other general corporate
purposes.
The Offering is anticipated to close on or about January 29, 2021 (the "Closing Date"). The
closing of the Offering is subject to certain conditions, including
but not limited to, the approval of the TSX Venture Exchange and
certain other conditions customary for a private placement of this
nature. All securities issued pursuant to the Offering will be
subject to a statutory four month and one day hold period from the
Closing Date.
The Company has agreed to pay a finder's fee in respect of those
purchasers under the Offering introduced to the Company by certain
persons (each a "Finder"). Each Finder will receive a cash
payment equal to 6% of the gross proceeds received by the Company
from purchasers under the Offering who were introduced to the
Company by such Finder.
The securities described herein have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities
laws, and accordingly, may not be offered or sold within
the United States except in
compliance with the registration requirements of the U.S.
Securities Act and applicable state securities requirements or
pursuant to exemptions therefrom. This press release does not
constitute an offer to sell or a solicitation to buy any securities
in any jurisdiction.
About Barsele Minerals Corp.
Barsele is a Canadian-based junior exploration company managed
by the Belcarra Group, comprised of highly qualified mining
professionals. Barsele's main property is the Barsele Gold Project
in Västerbottens Län, Sweden, a
joint venture with Agnico Eagle. An updated NI 43-101 Technical
Report on the Barsele Project with an effective date of
February 21, 2019, was filed on SEDAR
on April 2, 2019.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
FORWARD LOOKING STATEMENTS
This news release may contain forward-looking statements,
including, but not limited to, statements with respect to the
receipt of approvals for the Offering, closing of the Offering, use
of proceeds of the Offering, timing and content of upcoming work
programs, geological interpretations, receipt of property titles,
potential mineral recovery processes, etc. These statements reflect
management's current estimates, beliefs, intentions and
expectations; they are not guarantees of future performance.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Such factors
include, among other things: risks and uncertainties relating to
exploration and development, the ability of the Company to obtain
additional financing, the need to comply with environmental and
governmental regulations, fluctuations in the prices of
commodities, operating hazards and risks, competition and other
risks and uncertainties, including those described in the Company's
financial statements and management discussion and analysis
("MD&A") available on www.sedar.com. The risk factors
identified in the financial statements and MD&A are not
intended to represent a complete list of factors that could affect
the Company. Actual results may differ materially from those
currently anticipated in such statements and the Company undertakes
no obligation to update such statements, except as required by
law.
Neither 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 release.
SOURCE Barsele Minerals Corp.
