TORONTO, Nov. 29, 2017 (GLOBE NEWSWIRE) -- Minsud Resources Corp. (TSX-V:MSR) (“Minsud”
or the “Company”) is pleased to announce the closing of a non-brokered private placement offering of units in Minsud (the
“Units”) for gross proceeds of $944,900 (the “Private Placement”). In connection with the closing
of the Private Placement, which was initially announced on October 20, 2017, Minsud issued 9,449,000 Units at a price of $0.10 per
Unit with each Unit comprising of one common share in the capital of the Company (the “Shares”) and one common
share purchase warrant (the “Warrants”). Each Warrant is exercisable into one Share at $0.15 until November 29,
2019.
The net proceeds will be used to continue exploring the Cu-Mo-Ag-Au deposit at the Chita porphyry including
1,500 metres DDH drilling to further define the mineral resources. Additionally a modest part of this financing will be used to
carry out exploration on the La Rosita property.
Compañía de Tierras Sud Argentino S.A., an insider and control person of the Company, purchased 2,645,000
Units. The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI
61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation. The Company did not
file a material change report more than 21 days before the expected closing of the Private Placement as the details of the
participation by such insider was not settled until shortly prior to closing of the Private Placement.
The securities issued in connection with the closing of the Private Placement will be subject to a four month
hold period expiring on March 30, 2017. No commission or finder's fee was paid in connection with the Private Placement.
About Minsud Resources Corp.:
Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag Project, in
the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early stage prospects, including
18,000 ha in Santa Cruz Province, Argentina. The company has already resumed field work at the 100% owned La Rosita Project, a
Low-sulphidation Ag/Au prospect in the Deseado Massif.
FOR FURTHER INFORMATION PLEASE CONTACT
Carlos Massa
President and Chief Executive Officer
info@minsud.com
Mike Johnston
416-479-4466
mike@minsud.com
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, 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:
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 Company may carry on business in the future; operating or technical
difficulties in connection with exploration and development activities; fluctuations in the currency markets (such as the Canadian
dollar, Argentina peso, and the U.S. dollar); 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; fluctuations in commodity prices and the factors
identified in the Company's continuous disclosure documents filed on SEDAR. 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.
