/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, Aug. 23,
2022 /CNW/ - Barsele Minerals Corp. (TSXV:
BME) (the "Company" or "Barsele") is pleased to
announce the closing of its non-brokered private placement (the
"Offering"), previously announced on August 12, 2022, and subsequently upsized on
August 16, 2022. The Offering
consisted of the sale of 6,323,116 units of the Company (the
"Units") at a price of $0.30
per Unit for aggregate gross proceeds of $1,896,935.
Each Unit consists of one common share of the Company (each, a
"Share") and one-half of one warrant (each whole warrant, a
"Warrant"). Each Warrant entitles the holder thereof to
acquire one Share at a price of $0.45
per Share until August 23, 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 December 24,
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 Offering, Barsele paid Haywood Securities
Inc. a finder's fee of $34,740.
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 is not an
offer or a solicitation of an offer of securities for sale in
the United States, nor will there
be any sale of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
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 amended NI 43‐101 Technical
Report on the Barsele Project with an effective date of
February 21, 2019, was filed on SEDAR
on December 16, 2020.
ON BEHALF OF THE BOARD OF DIRECTORS
Gary Cope
President
FORWARD-LOOKING
STATEMENTS
This news release may contain forward-looking statements,
including statements with respect to the use of proceeds of the
Offering. 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, management discussion and analysis
and/or annual information form available on www.sedar.com. The risk
factors identified in such documents 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.
