/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, June 9, 2021 /CNW/ - KORE Mining Ltd. (TSXV:
KORE) (OTCQX: KOREF) ("KORE" or the "Company")
announces that further to the announcement of the C$8 million bought deal financing through a
syndicate of underwriters led by Canaccord Genuity Corp. and
including PI Financial Corp. and Cormark Securities Inc. on
May 11, 2021 (the
"Financing"), the anticipated closing date of the Financing
has been extended. The Company is working with the British Columbia
Securities Commission ("BCSC") in connection with its
prospectus review process and will be required to file amended
technical reports for its Imperial and Long Valley Projects to
address certain form related and other required revisions. The
Company intends to file the amended technical reports and final
prospectus in connection with the Financing as soon as possible
following receipt of clearance to file from the BCSC. A
further update will be disseminated once the final prospectus has
been cleared by the BCSC and filed.
The TSX Venture Exchange has conditionally approved the
Financing and the listing of the common shares to be issued and
issuable in connection with the Financing, subject to customary
conditions.
This press release is not an offer or a solicitation of an
offer of securities for sale in the
United States. The securities have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United
States absent registration or an applicable exemption from
registration.
About KORE Mining
KORE is 100% owner of the Imperial
and Long Valley gold projects in
California. Both projects have
positive preliminary economic assessments. KORE is supported
by strategic investor Eric Sprott
who owns 26% of KORE's basic shares. KORE management and Board are
aligned with shareholders, owning an additional 38% of the basic
shares outstanding. KORE is actively advancing its Imperial Gold
project and is aggressively exploring across its portfolio of
assets.
Further information on Imperial and KORE can be found on
the Company's website at www.koremining.com or by contacting
us at info@koremining.com or by telephone at (888) 407-5450.
On behalf of KORE Mining Ltd
"Scott
Trebilcock"
Chief Executive Officer
(888) 407-5450
Technical information with respect to the District and Imperial
and Long Valley gold projects
contained in this news release has been reviewed and approved
by Marc Leduc, P.Eng, who is KORE's COO and is the qualified
person under National Instrument 43-101 responsible for the
technical matters of this news release.
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 Regarding Forward-Looking Information
This news release contains forward-looking statements relating
to the future operations of the Company and other statements that
are not historical facts. Forward-looking statements are often
identified by terms such as "will", "may", "should", "anticipate",
"expects", "intends", "indicates" and similar expressions. All
statements other than statements of historical fact, included in
this release, including, without limitation, statements regarding
the future plans and objectives of the Company are forward-looking
statements. Forward-looking statements in this news release
include, but are not limited to, statements with respect to: the
successful closing and anticipated timing of closing of the
Financing, the anticipated timing of filing the amended technical
reports and the final prospectus, and the receipt of final approval
of the TSX Venture Exchange for the Financing. Such forward-looking
statements, and any assumptions upon which they are based, are made
in good faith and reflect our current judgment regarding the
direction of our business. Management believes that these
assumptions are reasonable. Forward looking information involves
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
Company to be materially different from any future results,
performance or achievements expressed or implied by the
forward-looking information.
Such factors include, among others: risks related to exploration
and development activities at the Company's projects, and factors
relating to whether or not mineralization extraction will be
commercially viable; risks related to mining operations and the
hazards and risks normally encountered in the exploration,
development and production of minerals, such as unusual and
unexpected geological formations, rock falls, seismic activity,
flooding and other conditions involved in the extraction and
removal of materials; uncertainties regarding regulatory matters,
including obtaining permits and complying with laws and regulations
governing exploration, development, production, taxes, labour
standards, occupational health, waste disposal, toxic substances,
land use, environmental protection, site safety and other matters,
and the potential for existing laws and regulations to be amended
or more stringently implemented by the relevant authorities;
uncertainties regarding estimating mineral resources, which
estimates may require revision (either up or down) based on actual
production experience; risks relating to fluctuating metals prices
and the ability to operate the Company's projects at a profit in
the event of declining metals prices and the need to reassess
feasibility of a particular project; that estimated resources will
be recovered or that they will be recovered at the rates estimated;
risks related to title to the Company's properties, including the
risk that the Company's title may be challenged or impugned by
third parties; the ability of the Company to access necessary
resources, including mining equipment and crews, on a timely basis
and at reasonable cost; competition within the mining industry for
the discovery and acquisition of properties from other mining
companies, many of which have greater financial, technical and
other resources than the Company, for, among other things, the
acquisition of mineral claims, leases and other mineral interests
as well as for the recruitment and retention of qualified employees
and other personnel; access to suitable infrastructure, such as
roads, energy and water supplies in the vicinity of the Company's
properties; and risks related to the stage of the Company's
development, including risks relating to limited financial
resources, limited availability of additional financing and
potential dilution to existing shareholders; reliance on its
management and key personnel; inability to obtain adequate or any
insurance; exposure to litigation or similar claims; currently
unprofitable operations; risks regarding the ability of the Company
and its management to manage growth; and potential conflicts of
interest.
In addition to the above summary, additional risks and
uncertainties are described in the "Risk Factors" section of the
Company's annual information form for the year ended December 31, 2020 available under the Company's
issuer profile on www.sedar.com.
Forward-looking statements contained herein are made as of the
date of this news release and the Company disclaims any obligation
to update any forward-looking statements, whether as a result of
new information, future events or results, except as may be
required by applicable securities laws. There can be no assurance
that forward-looking information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information.
The preliminary economic assessment in each of the technical
reports is preliminary in nature, it includes inferred mineral
resources that are considered too speculative geologically to have
the economic considerations applied to them that would enable them
to be categorized as mineral reserves, and there is no certainty
that such preliminary economic assessment will be realized.
Mineral resources are not mineral reserves and do not have
demonstrated economic viability.
SOURCE Kore Mining
