MONTREAL, Sept. 24, 2021 /CNW/ - AM Resources
Corporation ("AM" or the "Corporation") (TSXV:
AMR) (Frankfurt: 76A) is pleased
to announce a debenture units private placement of convertible
debenture units (the "Convertible Debenture Units") at a
price of $1,000 per Convertible
Debenture Unit for aggregate gross proceeds of up to $3,000,000 (the "Offering").
Pursuant to the Offering, each Convertible Debenture Unit will
be comprised of $1,000 principal
amount unsecured convertible debenture (each, a "Debenture")
and 10,000 common share purchase warrants of the Company (each, a
"Warrant"). The Debentures will mature on the date that is
36 months from the date of issuance (the "Maturity Date")
and shall bear interest at a simple rate of 10% per annum payable
on the Maturity Date. The principal amount of the Debentures, or
any portion thereof, may be converted at the election of the holder
thereof into common shares in the capital of the Company
("Common Shares") at a conversion price of $0.10 per Common Share (the "Conversion
Price") at any time prior to the Maturity Date. Each Warrant
will entitle the holder thereof to acquire one Common Share at a
price of $0.15 per Common Share for a
period of 36 months from the closing date of the Offering.
The Corporation may pay finder fees in connection with the
Offering. The Corporation intends to use the net proceeds of
the Offering for development of its projects, and for general
working capital purposes.
The Convertible Debenture Units, Debentures, Warrants, and any
securities issuable upon conversion or exercise thereof, will be
subject to a statutory hold period of four months and one day from
the date of issuance of the Convertible Debenture Units. The
Offering is subject to approval by the TSX Venture Exchange.
The Convertible Debenture Units will be offered and sold by
private placement in Canada
pursuant to exemptions from the prospectus requirements under
National Instrument 45-106 - Prospectus Exemptions, and
in certain other jurisdictions on a basis which does not require
the qualification or registration of the Convertible Debenture
Units, Debentures, Warrants, or any underlying securities.
ABOUT AM RESOURCES CORP.
AM Resources Corp. is a mining exploration Corporation with
interests in coal and natural bitumen projects in Colombia. AM is betting on Colombia's excellent mineral potential and
favourable climate to pursue its Colombian venture.
Neither 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.
Forward Looking Statements
This news release contains forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of AM to be materially different from
any future results, performance or achievements expressed or
implied by the forward-looking statements. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects" or "does not expect", "is expected",
"estimates", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Accordingly, readers
should not place undue reliance on the forward-looking statements
and information contained in this press release. Since
forward-looking statements and information address future events
and conditions, by their very nature they involve inherent risks
and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of factors and risks. Readers are
cautioned that the foregoing list of factors is not exhaustive. The
forward-looking statements contained in this news release are made
as of the date of this release and, accordingly, are subject to
change after such date.
AM does not assume any obligation to update or revise any
forward-looking statements, whether written or oral, that may be
made from time to time by us or on our behalf, except as required
by applicable law.
SOURCE AM Resources Corp.