Zeus North America Mining Corp. Announces Closing of Previously Announced Private Placement
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF) has closed its non-brokered private placement, raising gross proceeds of $1,416,100 through the issuance of 5,664,400 units at $0.25 per unit. Each unit includes one common share and one full share purchase warrant, exercisable at $0.35 until September 6, 2026. The company paid $74,970 in cash finder's fees and issued 299,880 non-transferable broker warrants. Proceeds will fund exploration programs on Idaho copper projects, including the flagship Cuddy Mountain project, and general working capital. Insider participation is considered a related party transaction under MI 61-101, with the company relying on exemptions from valuation and minority shareholder approval requirements.
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF) ha concluso il suo collocamento privato senza intermediari, raccogliendo proventi lordi di $1,416,100 attraverso l'emissione di 5,664,400 unità a $0.25 per unità. Ogni unità include un'azione comune e un warrant per l'acquisto di azioni, esercitabile a $0.35 fino al 6 settembre 2026. L'azienda ha pagato $74,970 in commissioni per i reperitori e ha emesso 299,880 warrant non trasferibili. I proventi finanzieranno programmi di esplorazione sui progetti di rame dell'Idaho, incluso il progetto di punta Cuddy Mountain, e capitale di lavorazione generale. La partecipazione dei membri interni è considerata una transazione tra parti correlate ai sensi del MI 61-101, con l'azienda che si affida a esenzioni dai requisiti di valutazione e approvazione degli azionisti di minoranza.
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF) ha cerrado su colocación privada sin intermediaros, recaudando ingresos brutos de $1,416,100 a través de la emisión de 5,664,400 unidades a $0.25 por unidad. Cada unidad incluye una acción común y un warrant completo de compra de acciones, que se puede ejercer a $0.35 hasta el 6 de septiembre de 2026. La compañía pagó $74,970 en comisiones en efectivo y emitió 299,880 warrants no transferibles. Los ingresos financiarán programas de exploración en proyectos de cobre en Idaho, incluido el proyecto insignia Cuddy Mountain, y capital de trabajo general. La participación de los insiders se considera una transacción entre partes relacionadas según el MI 61-101, con la compañía confiando en exenciones de los requisitos de valoración y aprobación de accionistas minoritarios.
제우스 북미 광업 주식회사 (CSE:ZEUS)(OTCQB:ZUUZF)는 중개인 없는 사모 배정을 마감했습니다, $1,416,100의 총 수익을 올립니다 5,664,400개의 유닛을 개당 $0.25에 발행하여 조달하였습니다. 각 유닛은 한 개의 보통주와 한 개의 완전한 주식 매수 워런트를 포함하며, 이는 2026년 9월 6일까지 $0.35에 행사할 수 있습니다. 회사는 $74,970의 현금 찾기 수수료를 지불했습니다 그리고 299,880개의 양도할 수 없는 중개인 워런트를 발행했습니다. 수익금은 아이다호 구리 프로젝트의 탐사 프로그램에 자금을 지원할 것입니다, 대표 프로젝트인 커디 마운틴을 포함하여, 그리고 일반 운영 자본에 사용됩니다. 내부자 참여는 MI 61-101에 따른 관련 당사자 거래로 간주되며, 회사는 평가 및 소액 주주 승인 요건의 면제를 따릅니다.
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF) a clôturé son placement privé sans intermédiaire, levant des produits bruts de 1 416 100 $ grâce à l'émission de 5 664 400 unités au prix de 0,25 $ par unité. Chaque unité comprend une action ordinaire et un bon de souscription d'actions, exerçable à 0,35 $ jusqu'au 6 septembre 2026. La société a payé 74 970 $ en frais de recherche et a émis 299 880 bons de souscription non transférables. Les produits seront utilisés pour financer des programmes d'exploration sur des projets de cuivre dans l'Idaho, y compris le projet phare de Cuddy Mountain, ainsi que pour du fonds de roulement général. La participation des initiés est considérée comme une transaction entre parties liées en vertu du MI 61-101, l'entreprise s'appuyant sur des exemptions aux exigences de valorisation et d'approbation des actionnaires minoritaires.
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF) hat seinen nicht vermittelten Privatplatzierungsabschluss mit einem Bruttoerlös von $1,416,100 durch die Ausgabe von 5,664,400 Einheiten zu je $0.25 pro Einheit abgeschlossen. Jede Einheit umfasst eine Stammaktie und einen Voll-Warrant zum Kauf von Aktien, der bis zum 6. September 2026 zu $0.35 ausgeübt werden kann. Das Unternehmen zahlte $74,970 an Barfindergebühren und gab 299,880 nicht übertragbare Vermittlerwarrants aus. Die Erlöse werden Erkundungsprogramme in Idaho für Kupferprojekte, einschließlich des Flaggschiffprojekts Cuddy Mountain, finanzieren sowie für das allgemeine Betriebskapital verwendet. Die Teilnahme von Insidern wird gemäß MI 61-101 als Transaktion mit nahestehenden Personen betrachtet, wobei sich das Unternehmen auf Befreiungen von Bewertungs- und Minderheitsaktionärszugehörigkeitsanforderungen verlässt.
- Successful closing of private placement raising $1,416,100
- Proceeds to fund exploration programs on Idaho copper projects
- Insider participation in the placement, showing management confidence
- Dilution of existing shareholders due to new share issuance
- Payment of $74,970 in cash finder's fees, reducing net proceeds
VANCOUVER, BC / ACCESSWIRE / September 9, 2024 / Zeus North America Mining Corp. (formerly Umdoni Exploration Inc.) (CSE:ZEUS)(OTCQB:ZUUZF)(FRANKFURT:O92) (the "Company" or "Zeus") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Placement") through the issuance of 5,664,400 units ("Units") at a price of
Each Unit consisted of one common share and one full share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to acquire an additional common share at a price of
The Company has paid a
The proceeds of the Placement will be utilized for exploration programs on the Company's Idaho copper projects, including its flagship Cuddy Mountain project, and for general working capital purposes.
Insiders of the Company have subscribed for Units pursuant to the Placement. The issuance of the Units to the insiders pursuant to the Placement (the "Insider Participation") will be considered to be related party transactions within the meaning of Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101 in respect of the Insider Participation.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities described herein have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "1933 Act") or under any U.S. state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act, as amended, and applicable state securities laws.
On behalf of the board of directors.
"Dean Besserer"
President and CEO
For more information, please contact the Company at info@zeusminingcorp.com
FOR INVESTOR RELATIONS CONTACT:
Kin Communications Inc.
Ph: 604-684-6730
ZEUS@kincommunications.com
About Zeus North America Mining Corp.
The Company is in the business of mineral exploration. The Company is focused on its exploration properties in the state of Idaho known as the: Cuddy Mountain; Selway; and Great Western properties, respectively. The Idaho properties consist of 82 (Cuddy Mountain), 57 (Selway) and 38 (Great Western) lode mining claims respectively and cover a cumulative area of approximately 3822.1 acres. The Company's flagship Cuddy Mountain Property is adjacent to Hercules Metal Corp's Leviathan Copper Porphyry discovery.
Forward Looking Statements
When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this news release include, amongst others, the Company's exploration plans. Such statements and information reflect the current view of the Company. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements or implied by such forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions.
The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of its securities or its financial or operating results (as applicable). The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. The Company does not undertake to update this information at any particular time except as required in accordance with applicable laws.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Zeus North America Mining Corp.
View the original press release on accesswire.com
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