/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Feb. 18,
2022 /CNW/ - Barsele Minerals Corp. (TSXV:
BME) (the "Company" or "Barsele") is pleased to
announce that it has closed the final tranche (the
"Final Tranche") of its non-brokered private
placement (the "Offering"), announced on January 6, 2022. The Final Tranche was comprised
of 550,000 units of the Company (the "Units") issued at a
price of $0.50 per Unit for aggregate
gross proceeds of $275,000.
Each Unit consists of one common share (each, a "Share")
and one-half of one common share purchase warrant (each whole
warrant, a "Warrant"). Each Warrant entitles the holder
thereof to acquire one Share at the price of $0.75 per Share until February 18, 2024. The Shares and Warrants
comprising the Units and any Shares issued upon the exercise of the
Warrants are subject to a statutory hold period which expires on
June 18, 2022.
The Company intends to use the net proceeds from the Offering
for working capital requirements and other general corporate
purposes.
In connection with the closing of the Final Tranche, Barsele
paid finder's fees of $7,500 to
Haywood Securities Inc.
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
Information set forth in this press release contains
forward-looking statements. These statements reflect management's
current estimates, beliefs, intentions and expectations; they are
not guarantees of future performance. The Company cautions that all
forward-looking statements are inherently uncertain and that actual
performance may be affected by a number of material factors, many
of which are beyond the Company's control. 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
available on www.sedar.com. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, the Company undertakes no obligation to
publicly update or revise forward-looking information.
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 RELEASE.
SOURCE Barsele Minerals Corp.
