Trueclaim Exploration Inc. Announces Non-Brokered Private Placement to Raise up to $1,000,000
June 25 2011 - 8:03AM
Marketwired
Trueclaim Exploration Inc. (the "Company")(TSX VENTURE: TRM)(OTCQX:
TRMNF) is arranging a non-brokered private placement to raise up to
$1,000,000 through the issuance of 5,882,353 flow-through units
(each a "Flow-Through Unit") at a purchase price of $0.17 per
Flow-Through Unit. Each Flow-Through Unit will consist of one
common share in the capital of the Company, to be issued on a
flow-through basis under the provisions of the Income Tax Act
(Canada), and one-half of one common share purchase warrant (each
whole warrant a "Warrant"). Each Warrant has a term of 18 months
from the date of closing of the Private Placement (the "Closing
Date") and entitles the holder thereof to purchase one common share
of the Company at an exercise price of $0.25 per share at any time
on or before 18 months after the Closing Date.
The Company intends to use the funds on exploration work on its
Scadding Gold project in Ontario, Canada.
The Company may pay a finder's fee to arm's length parties on
funds raised under the private placement, in cash and/or securities
of the Company in accordance with the policies of the TSX Venture
Exchange.
The private placement and the payment of any finder's fees are
subject to the acceptance of the TSX Venture Exchange
We seek Safe Harbour.
TRUECLAIM EXPLORATION INC.
John Carter, President
This news release contains "forward-looking information" (within
the meaning of applicable Canadian securities laws) and
"forward-looking statements" (within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995). Such statements
or information are identified with words such as "anticipate",
"believe", "expect", "plan", "intend", "potential", "estimate",
"propose", "project", "outlook", "foresee" or similar words
suggesting future outcomes or statements regarding an outlook. Such
statements include, among others, those concerning the private
placement and exploration program(s). All statements in this news
release, other than statements of historical facts, which address
future production, reserve potential, exploration activities,
financing plans, objectives or goals, and events or developments
that the Company expects, are forward - looking statements. Since
forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties.
Such forward-looking information or statements are based on a
number of risks, uncertainties and assumptions which may cause
actual results or other expectations to differ materially from
those anticipated and which may prove to be incorrect. Assumptions
have been made regarding, among other things, management's
expectations regarding its ability to complete its exploration and
development work as expected. Actual results could differ
materially due to a number of factors, including, without
limitation, operational risks in the completion of the Company's
continued development work, technical, safety or regulatory issues,
market prices, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market
or business conditions. Although the Company believes that the
expectations reflected in the forward-looking information or
statements are reasonable, prospective investors in the Company's
securities should not place undue reliance on forward-looking
statements because the Company can provide no assurance that such
expectations will prove to be correct. Actual results or
developments may differ materially from those projected in the
forward - looking statements. Such risks include expectations that
may be raised by discussing potential mine types and by comparing
the Company's projects to other projects. Also, in order to proceed
with the Company's exploration and acquisition plans, additional
funding is necessary and, depending on market conditions, this
funding may not be forthcoming on a schedule or on terms that
facilitate the Company's plans. Forward-looking information and
statements contained in this news release are as of the date of
this news release and the Company assumes no obligation to update
or revise this forward-looking information and statements 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) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Trueclaim Exploration Inc. John Carter President
519-913-8008 1-888-686-1405 (FAX) www.trueclaim.ca
New Wave (PK) (USOTC:TRMNF)
Historical Stock Chart
From Aug 2024 to Sep 2024
New Wave (PK) (USOTC:TRMNF)
Historical Stock Chart
From Sep 2023 to Sep 2024