TSX-V: AZR
VANCOUVER, Sept. 23, 2016 /CNW/ - AZARGA METALS CORP.
("Azarga Metals" or the "Company") (TSX-V:AZR)
is pleased to announce that due to demand it has
increased its previously announced non-brokered private placement
from $1,000,000 to up to $1,100,000. The Company will issue up to
3,437,500 units at a price of $0.32
per unit (the "Unit") for gross proceeds of up to $1,100,000, Each Unit consists of one
common share of the Company (each, a "Share") and one-half
of one Share purchase warrant (each whole warrant, a
"Warrant"). One Warrant entitles the holder thereof to
purchase one Share of the Company at a price of $0.40 per Share for a period of 12-months from
the closing of the Private Placement. The Shares issued in
connection with the Private Placement will be subject to a
four-month hold period.
The private placement is subject to compliance with applicable
securities laws and to receipt of regulatory approval.
The Private Placement is subject to compliance with applicable
securities laws and to receipt of regulatory approval. The Company
reserves the right to modify the type, nature and/or price of the
Private Placement for any reason, subject to TSX Venture Exchange
acceptance.
The Company may pay finder's fees within the allowable limits of
the policies of the TSX Venture Exchange.
About Azarga Metals Corp.
Azarga Metals is a mineral exploration and development company
that owns 60% of the Unkur Silver-Copper Project in the Zabaikalsky
administrative region in eastern Russia.
AZARGA METALS CORP.
"Dusty Nicol"
Dorian L.
(Dusty) Nicol, President and CEO
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.
Cautionary Statement:
This news release contains forward-looking statements that are
based on the Corporation's current expectations and estimates.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current planned exploration activities;
conclusions of economic evaluations; changes in project parameters
as plans to continue to be refined; possible variations in ore
grade or recovery rates; accidents, labour disputes and other risks
of the mining industry; delays in obtaining governmental approvals
or financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Corporation
disclaims any intent or obligation to update any forward-looking
statement, whether as a result of new information, future events or
results or otherwise. Forward-looking statements are not guarantees
of future performance and accordingly undue reliance should not be
put on such statements due to the inherent uncertainty therein.
SOURCE Azarga Metals Corp.
