Myriad Metals Corp. Closes Private Placement Financing
Vancouver, March 11, 2021 - Myriad Metals Corp. (CSE: MMC) ("Myriad" or the "Company") announced that it has closed its previously announced non-brokered private placement financing (see Myriad's press release dated February 17, 2021). Under the over-subscribed financing, Myriad raised gross proceeds of $1,288,000 through the issuance of an aggregate of 6,440,000 units (each, a "Unit") at a price of $0.20 per Unit, each Unit consisting of one common share (each, a "Common Share") and one common share purchase warrant (each, a "Warrant", exercisable for an additional Common Share at $0.40 for two years from the date of issuance). The securities issued under the financing are subject to a four month hold period that expires July 11, 2021, in accordance with applicable Canadian securities laws. The Company will use the proceeds of the financing for general working capital. In connection with the financing, Myriad paid aggregate finder's fees of $39,480.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
Certain directors and officers of the Company participated in the financing, which participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). This participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of such participation does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.
About the Company
The Company is a Vancouver-based mineral exploration company currently focused on the exploration of its Millen Mountain Property located in Nova Scotia, Canada. For further information, please refer to the Company's disclosure record on SEDAR (www.sedar.com) or contact the Company by telephone at 778.999.7030.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Smith, CEO
778.999.7030
###
This news release contains "forward-looking information" that is based on the Company's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, the Company's business, plans, outlook and business strategy. The words "may", "would", "could", "should", "will", "likely", "expect," "anticipate," "intend", "estimate", "plan", "forecast", "project" and "believe" or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: changes in economic conditions or financial markets; increases in costs; litigation; legislative, environmental and other judicial, regulatory, political and competitive developments; and technological or operational difficulties. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the contents of this news release.