TSX-V: MSR
TORONTO, Feb. 25, 2019 /CNW/ - Minsud Resources Corp.
(TSXV: MSR) ("Minsud" or the "Company") announces that it intends to complete, subject to the approval of the TSX Venture
Exchange (the "TSXV"), a non-brokered private placement of units of the Company ("Units") for gross proceeds of up
to $550,000 (the "Private Placement") at $0.10 per Unit, with
each Unit consisting of one common share of the Company (each, a "Share") and one common share purchase warrant (a
"Warrant"). Each Warrant is exercisable into one Share at $0.15 for a term of two years from
the date of issue.
The net proceeds will be used to continue exploring the Cu-Mo-Ag-Au deposit at the Chita Valley Project, payments related to
option agreements and financing of mining rights acquisitions, as well as working capital and corporate
overhead requirements.
No commission or finder's fee will be paid in connection with the Private Placement. The Shares will be subject to a hold
period of four months and a day from their date of issuance. The Company expects to complete the Private Placement within 30
days.
A portion of the gross proceeds is expected to be subscribed for by insiders of the Company. Any such subscription will be
considered to be a related party transaction within the meaning of TSX-V Policy 5.9 which incorporates Multilateral Instrument
61-101 ("MI 61-101"). The Company intends to rely 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.
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.
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 the announced private placement,
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: the ability of the Company to complete the announced private placement; 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.
SOURCE Minsud Resources Corp.
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