Murchison Announces Proposed $400,000 Private Placement

Rhea-AI Summary

Murchison Minerals Ltd. (TSXV:MUR) has announced a proposed non-brokered private placement to raise up to $400,000 for exploration at its HPM property in Quebec. The company aims to issue up to 4,210,526 flow-through common shares priced at $0.095 each. These shares qualify as flow-through shares under Canadian tax regulations. All securities issued will be subject to a four-month hold period post-issuance. Murchison is also focused on its 100% owned projects including the Brabant-McKenzie zinc-copper-silver project in Saskatchewan.

Positive

• Plans to raise up to $400,000 for exploration, enhancing the HPM property development.
• Issuance of flow-through shares could attract tax-advantaged investments.

Negative

• None.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, ON / ACCESSWIRE / December 2, 2020 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) announces that it proposes to complete a non-brokered private placement of up to $400,000 (the "Private Placement") as detailed below. The proceeds will be used for exploration at its HPM property in Quebec.

The Company proposes to issue up to 4,210,526 flow-through common shares (the "FT Shares") at a price of $0.095 per FT Share. The FT Shares will qualify as a "flow-through share" for purposes of the Income Tax Act (Canada) and Quebec Tax Act.

A finder's fee may apply to a portion of the proceeds raised under the Private Placement. All securities issued pursuant to the Private Placement will be subject to a four-month hold period from the date of issue.

About the HPM Project (100%-owned)

The HPM project consists of 109 contiguous claims covering 5,826 ha (58.3 km²) located within the Manicouagan Metamorphic Complex, 275 km north-east of Baie-Comeau and 135 km south of Fermont. Close access is possible via an all-weather provincial road/gravel road. See Press Release dated November 19, 2020 for results of the summer 2020 reconnaissance sampling.

About Murchison Minerals Ltd. (TSXV: MUR)

Murchison is a Canadian‐based exploration company focused on the exploration and development of the 100%-owned Brabant‐McKenzie zinc‐copper‐silver project in north‐central Saskatchewan. The Company also has a 100% interest in the HPM nickel‐copper‐cobalt project in Quebec. Murchison has 78.7 million shares issued and outstanding.

Additional information about Murchison and its exploration projects can be found on the Company's website at www.murchisonminerals.com. For further information, please contact:

Jean‐Charles (JC) Potvin, President and CEO or Erik H Martin, CFO
Tel: (416) 350‐3776
info@murchisonminerals.com

CHF Capital Markets
Cathy Hume, CEO
Tel: 416-868-1079 x 251
cathy@chfir.com

Forward-Looking Information

Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

SOURCE: Murchison Minerals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/619101/Murchison-Announces-Proposed-400000-Private-Placement

FAQ

What is the purpose of Murchison Minerals' proposed private placement?

The private placement aims to raise up to $400,000 for exploration at Murchison's HPM property in Quebec.

How many flow-through common shares will Murchison issue?

Murchison plans to issue up to 4,210,526 flow-through common shares at a price of $0.095 each.

What is the duration of the hold period for the securities issued?

All securities issued will be subject to a four-month hold period from the date of issue.

What projects does Murchison Minerals focus on?

Murchison Minerals is focused on the HPM nickel-copper-cobalt project in Quebec and the Brabant-McKenzie zinc-copper-silver project in Saskatchewan.

What is the stock symbol for Murchison Minerals?

The stock symbol for Murchison Minerals is TSXV:MUR.