Minsud Resources Announces Exercise of Warrants for Gross Proceeds of $627,000; Appoints New Director
TORONTO, Dec. 10, 2021 - Minsud Resources Corp. (TSXV: MSR) ("Minsud" or the "Company"), is pleased to announce that certain holders of common share purchase warrants (the "Warrants") have exercised an aggregate of 4,180,000 Warrants resulting in gross proceeds to the Company of $627,000. Each Warrant is exercisable for one (1) common share of the Company at an exercise price of $0.15 per share. The Warrants were issued in connection with a private placement financing of the Company which had closed on December 10th, 2019.
Minsud also announces that Hugo Dragonetti (Jr.) has resigned as a director of the Company. Mrs. Lucia Dragonetti has been appointed, subject to the approval of the TSX Venture Exchange, to fill the vacancy on the board created by the resignation of Mr. Hugo Dragonetti (Jr.). The Company would like to thank Mr Hugo Dragonetti (Jr.) for his outstanding service and dedication to the Company and wishes him the best in his future endeavours.
Mrs. Lucía Dragonetti has a degree in Political Science from the Universidad Católica Argentina. She has also obtained a postgraduate degree in Direction and Management of Construction Enterprises organized by the IAE (Management and Business School at the Universidad Austral). Since 2010 she has served as director of Panedile Argentina S.A.I.C.F.eI. Panedile is a company with over seventy years of experience in the construction and management of large civil works and infrastructure doing business in the hydraulic, road building complexes, mining and sanitation sectors.
Ramiro Massa, Minsud's President & CEO, said: "We are very pleased with this strong show of support from our existing long-term shareholders as we continue to move forward with our strategy to further explore our Chita Valley project. We are also delighted that Mrs. Lucia Dragonetti has agreed to join us as a new board member. She is a valuable addition to our diverse board".
About Minsud Resources Corp.
Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo- Au-Ag-Pb-Zn Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early-stage prospects, including 6,000 ha in Santa Cruz Province, Argentina.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, results of exploration, anticipated financial results, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Corporation may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company's title to properties; risks relating to the Company's ability to raise funds; and the factors identified under "Risk Factors" in the Company's Filing Statement dated April 27, 2011. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company 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 law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Minsud Resources Corp.
Contact
Ramiro Massa, President and Chief Executive Officer, info@minsud.com, www.minsud.com, +1 416-479-4466