/NOT FOR DISTRIBUTION OR DISSEMINATION IN
THE UNITED STATES. FAILURE TO
COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF
UNITED STATES SECURITIES
LAWS/
CALGARY,
AB, Feb. 14, 2022 /CNW/
- North Peak Resources Ltd. (TSXV: NPR) (the
"Company") is pleased to announce that it intends to
complete a non-brokered private placement of up to 2,173,913 equity
units of the Company ("Units") at a price of CAD$2.30 per Unit for gross proceeds of up to
CAD$5,000,000 (the "Private
Placement"). The Company has the option to increase the size of
the Private Placement by up to an additional 326,087 Units, for
total gross proceeds of up to CAD$5,750,000.
Each Unit will be comprised of one (1) common share of the
Company and one-half of one (1/2) common share purchase warrant of
the Company (a "Warrant"). Each whole Warrant will entitle
the holder to acquire one (1) common share of the Company for a
period of 12 months from the date of issuance of the Warrant, at an
exercise price of CAD$3.50 per
share.
"Working together with its suppliers and contractors, the
Company has a solid idea of its exploration program requirements
for the upcoming months and this Private Placement will give key
investors the opportunity to support these efforts," said
Brian Hinchcliffe, CEO of the
Company.
The Private Placement is subject to the approval of the TSX
Venture Exchange (the "Exchange"). The securities issued in
connection with the Private Placement will be subject to a
four-month hold period, in accordance with applicable securities
laws.
The Company intends to use the proceeds from the Private
Placement towards exploration drilling programs on the Black Horse
gold and silver property (the "Black Horse Property"), the
continued development of its business and for general and
administrative expenses. The Company has an option to acquire the
Black Horse Property, which consists of 2,733 acres located
approximately 50 miles east of Ely
in White Pine Country, Nevada and
shows evidence of three historic mining areas: the Black Horse, San
Pedro and Gold King. See the Company's January 11, 2022 press release for additional
information.
The Company may pay a commission or finder's fee to eligible
parties in connection with the Private Placement, subject to the
approval of the Exchange and compliance with applicable securities
laws.
About North Peak Resources
The Company is a Canadian based gold exploration and development
company that is listed on the TSX Venture Exchange under the symbol
"NPR". The Company holds an option to acquire the 2,733-acre Black
Horse gold and silver property located approximately 50 miles east
of Ely within the Black Horse
mining district in White Pine
County, Nevada. See the Company's January 11, 2022 press release for additional
information.
This press release is not an offer of the Company's
securities for sale in the United
States. The Company's securities may not be offered or sold
in the United States absent
registration or an available exemption from the registration
requirements of the U.S. Securities Act of 1933, as amended (the
"U.S. Securities Act") and applicable U.S. state securities laws.
The Company will not make any public offering of its securities in
the United States. The Company's
securities have not been and will not be registered under the U.S.
Securities Act.
This press release shall not constitute an offer to sell
or the solicitation of an offer to buy, nor shall there be any sale
of these securities, in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS: This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not
limited to, statements with respect to completion of the proposed
Private Placement, the anticipated use of proceeds of the Private
Placement, timing and completion of any drilling and work programs
on the Black Horse Property, estimates of mineralization
from drilling, geological information projected from sampling
results and the potential quantities and grades of the target
zones, potential for minerals and/or mineral resources, and
statements regarding the plans, intentions, beliefs, and current
expectations of the Company with respect to the future business
activities and operating performance of the Company that may be
described herein. Forward-looking statements consist of statements
that are not purely historical, including any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such information can generally be identified by the use of
forwarding-looking wording such as "may", "expect", "estimate",
"anticipate", "intend", "believe" and "continue" or the negative
thereof or similar variations. Readers are cautioned not to place
undue reliance on forward-looking statements, as there can be no
assurance that the plans, intentions or expectations upon which
they are based will occur.
By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, estimates, forecasts, projections and other
forward-looking statements will not occur. These assumptions, risks
and uncertainties include, among other things, the state of the
economy in general and capital markets in particular, accuracy of
assay results, geological interpretations from drilling results,
timing and amount of capital expenditures; performance of available
laboratory and other related services, future operating costs, and
the historical basis for current estimates of potential quantities
and grades of target zones, as well as those risk factors discussed
or referred to in the Company's Management's Discussion and
Analysis for the year ended December 31,
2020, and the period ended September
30, 2021 available at www.sedar.com, many of which are
beyond the control of the Company. Forward-looking statements
contained in this press release are expressly qualified by this
cautionary statement.
The forward-looking statements contained in this press
release are made as of the date of this press release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by, third parties in
respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation
Service 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 North Peak Resources Ltd.