Zeus North America Mining Corp. Arranges $1.0 million Private Placement

Rhea-AI Summary

Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF) has announced a fully subscribed non-brokered private placement to raise $1,000,000 through the sale of up to 4,000,000 units at $0.25 per unit. Each unit includes one common share and one full share purchase warrant, allowing the holder to acquire an additional common share at $0.35 for two years after closing.

The proceeds will fund exploration programs on the company's Idaho copper projects, including its flagship Cuddy Mountain project, and general working capital. The placement is subject to regulatory and exchange approval. Finder's fees may be payable on all or part of the placement.

Positive

• Fully subscribed private placement raising $1,000,000
• Funds allocated for exploration of Idaho copper projects
• Each unit includes a full share purchase warrant, potentially increasing future capital

Negative

• Potential dilution of existing shareholders due to issuance of new shares
• Warrants may lead to further dilution if exercised

Not for distribution to U.S. news wire services or dissemination in the United States.

VANCOUVER, BC / ACCESSWIRE / July 30, 2024 / Zeus North America Mining Corp. (formerly Umdoni Exploration Inc.) (CSE:ZEUS)(OTCQB:ZUUZF)(FRANKFURT:O92) (the "Company" or "Zeus") is pleased to announce a fully subscribed non-brokered private placement (the "Placement") to raise $1,000,000 through the sale of up to 4,000,000 units (each a "Unit") at a price of $0.25 per Unit.

Each Unit will comprise one common share and one full share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to acquire an additional common share at a price of $0.35 per share for a period of two years following closing of the Placement.

Finder's fees may be payable on all or any portion of the Placement, which is subject to regulatory and exchange approval.

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.

Completion of the Placement is subject to certain conditions including the receipt of all necessary approvals and the acceptance by the Canadian Securities Exchange.

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 being offered 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

FAQ

What is the price per unit in Zeus North America Mining Corp.'s (ZUUZF) private placement?

The price per unit in Zeus North America Mining Corp.'s private placement is $0.25.

How much capital is Zeus North America Mining Corp. (ZUUZF) raising through this private placement?

Zeus North America Mining Corp. is raising $1,000,000 through this private placement.

What will the proceeds from Zeus North America Mining Corp.'s (ZUUZF) private placement be used for?

The proceeds will be used for exploration programs on the company's Idaho copper projects, including its flagship Cuddy Mountain project, and for general working capital purposes.

What is the exercise price and duration of the warrants included in Zeus North America Mining Corp.'s (ZUUZF) private placement units?

Each warrant entitles the holder to acquire an additional common share at a price of $0.35 per share for a period of two years following the closing of the placement.