CALGARY, Sept. 8, 2017 /CNW/ - Ikkuma Resources
Corp. ("Ikkuma" or the "Corporation")
(TSX VENTURE: IKM) is pleased to announce that it has closed
the second tranche of its previously announced non-brokered
private placement offering (the "Offering") of common shares
issued on a "flow-through" basis in respect of Canadian exploration
expenses under the Income Tax Act (Canada) (the "Flow-Through Shares"),
pursuant to which the Corporation issued 9,016,621 Flow-Through
Shares at a price of $0.82 per share
for gross proceeds of $7,393,629.22.
The gross proceeds from the Offering will be used by Ikkuma to
incur eligible Canadian exploration expenses ("Qualifying
Expenditures") prior to December 31,
2018. Ikkuma will renounce the Qualifying Expenditures to
subscribers of the Flow-Through Shares for the fiscal year ended
December 31, 2017.
The Flow-Through Shares issued pursuant to the second tranche of
the Offering are subject to a statutory hold period under
applicable securities legislation until January 9, 2018. In connection with the closing
of the second tranche of the Offering, the Corporation paid a
finder's fee to National Bank Financial Inc., an arm's length
eligible person, consisting of a cash payment in the aggregate
amount of $26,584.40.
The Corporation intends to close a third and final tranche of
the Offering on or about September 15,
2017, for aggregate gross proceeds under the Offering of
approximately $12.5 million.
This news release does not constitute an offer to sell or
solicitation of an offer to buy any of the securities in the United
States. The securities 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 may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
About Ikkuma Resources Corp.
Ikkuma Resources Corp. is a diversified junior public oil and
gas company listed on the TSX Venture Exchange under the symbol
"IKM", with holdings in both conventional and unconventional
projects in Western Canada. The technical team has worked
together for over a decade in the Foothills Region of Western Canada, through two successful,
publicly traded companies. The unique skills and repeat
success at exploiting a complex, potentially prolific play type are
fundamental ingredients for a successful growth-oriented company in
Western Canada. Corporate information can be found at:
www.ikkumarescorp.com.
Forward-Looking Statements and Information and Cautionary
Statements
This press release contains forward looking statements and
forward looking information within the meaning of applicable
securities laws including, without limitation, those listed under
"Risk Factors" and "Forward-looking Statements" in Ikkuma's Annual
Information Form and in its other filings available on SEDAR at
www.sedar.com. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward looking
statements or information. Forward-looking statements and
information in this press release includes, but is not limited to,
the completion of subsequent tranches of the Offering and the
timing thereof and the use of proceeds from the Offering. Although
Ikkuma believes that the expectations and assumptions on which the
forward looking statements and information are based are
reasonable, undue reliance should not be placed on the forward
looking statements and information because Ikkuma cannot give any
assurance that they will prove to be correct. Since forward
looking statements and information address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. These
include but are not limited to the risks associated with the oil
and gas industry in general (e.g., operational risks in
development, exploration and production; delays or changes in plans
with respect to exploration or development projects or capital
expenditures; the uncertainty of reserve estimates; the uncertainty
of estimates and projections relating to production, costs and
expenses; failure to obtain necessary regulatory approvals for
planned operations; health, safety and environmental risks;
uncertainties resulting from potential delays or changes in plans
with respect to exploration or development projects or capital
expenditures; volatility of commodity prices, currency exchange
rate fluctuations; imprecision of reserve estimates; and
competition from other explorers) as well as general economic
conditions, stock market volatility, and the ability to access
sufficient capital. We caution that the foregoing list of risks and
uncertainties is not exhaustive.
In addition, the reader is cautioned that historical results
are not necessarily indicative of future performance. The
forward-looking statements and information contained in this press
release are made as of the date hereof and Ikkuma undertakes no
obligation to update publicly or revise any forward looking
statement or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
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 Ikkuma Resources Corp.