Makara Announces Intention to Complete Private Placement

Rhea-AI Summary

Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC PINK:MAKAF) announced a planned Private Placement on August 25, 2021, where its new director, Jatinder Dhaliwal, aims to invest approximately $500,000 in common shares. This transaction is part of a larger financing effort totaling $1.3 million. The Company is focused on mineral exploration, particularly gold properties in the Yukon and Ontario. Investors should note the forward-looking statements regarding the financing process and associated risks.

Positive

• Jatinder Dhaliwal's planned investment of $500,000 signals strong insider confidence in the company.
• The Private Placement is a part of a larger $1.3 million financing, indicating potential for future capital influx.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / August 23, 2021 / Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC PINK:MAKAF) ("Makara" or the "Company") announces that on August 25, 2021, its newly appointed director, Jatinder Dhaliwal, intends to subscribe for approximately $500,000 in common shares of the Company at the maximum permitted discount under the rules and policies of the Canadian Securities Exchange (the "Private Placement"). The Private Placement will be the first tranche of a planned $1.3 million financing for the Company by Mr. Dhaliwal.

About the Company

Makara Mining Corp. (CSE:MAKA)(FSE:MK0)(OTC PINK:MAKAF) is a mineral exploration company focused on the acquisition, exploration and development of gold properties. The Company is based in Vancouver, B.C. and holds options over the Rude Creek Property and Idaho Creek Property located in the Yukon and the Kenora Gold Property located in Northwestern Ontario. Additional information about the Company is available at www.makaramining.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Grant Hendrickson
Director and Chief Executive Officer
Telephone: 604-372-3707
Email: grant@makaramining.com

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, and statements respecting the Company's intention to complete the Private Placement and the second tranche thereof are "forward-looking statements". Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

SOURCE: Makara Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/660868/Makara-Announces-Intention-to-Complete-Private-Placement

FAQ

What is the significance of Makara Mining Corp's private placement on August 25, 2021?

The private placement allows newly appointed director Jatinder Dhaliwal to invest $500,000, indicating confidence in the company's future.

How much total financing is planned by Makara Mining Corp?

Makara Mining Corp plans a total financing of $1.3 million, with the initial $500,000 coming from director Jatinder Dhaliwal.

What are the properties held by Makara Mining Corp?

Makara Mining Corp focuses on gold properties including the Rude Creek Property and Idaho Creek Property in Yukon and the Kenora Gold Property in Ontario.

What is the ticker symbol for Makara Mining Corp?

The ticker symbol for Makara Mining Corp is MAKAF.