/Not for distribution to United States newswire services or for
dissemination in the United
States/
VANCOUVER, BC, Jan. 22, 2024 /CNW/ - Scottie Resources
Corp. (TSXV: SCOT) (OTCQB: SCTSF) (FSE:
SR8) ("Scottie" or the "Company") is
pleased to announce that, further to the Company's news release
dated January 18, 2024 (the
"Initial News Release"), the Company has closed the first
tranche (the "First Tranche") of its non-brokered private
placement (the "Private Placement"). Under the First
Tranche, the Company issued 11,111,111 non flow-through units (the
"NFT Units") at a price of $0.18 per NFT Unit for gross proceeds of
$2,000,000. Each NFT Unit consists of
one common share in the capital of the Company (a "Share")
and one-half of one common share purchase warrant (each whole
warrant a "Warrant"). Each Warrant entitles the holder to
purchase an additional Share (a "Warrant Share") at an
exercise price of $0.28 per Warrant
Share for a period of three (3) years from the date of
issuance.
The Company intends to use the proceeds of the First Tranche for
general working capital and administrative purposes.
The securities offered in the First Tranche are subject to a
four month and a day transfer restriction from the date of issuance
expiring on May 23, 2024, in addition
to such other restrictions as may apply under applicable securities
laws of jurisdictions outside Canada.
Completion of the Private Placement remains subject to the
receipt of all necessary regulatory approvals, including the
approval of the TSX Venture Exchange.
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.
Cautionary and Forward-Looking Statements
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of
America. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "1933 Act") or any state securities laws and may not
be offered or sold within the United
States or to, or for account or benefit of, U.S. Persons (as
defined in Regulation S under the 1933 Act) unless registered under
the 1933 Act and applicable state securities laws, or an exemption
from such registration requirements is available.
This news release includes certain statements and information
that may constitute forward-looking information within the meaning
of applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the
expectations or beliefs of management of the Company regarding
future events. Generally, forward-looking statements and
information can be identified by the use of forward-looking
terminology such as "intends" or "anticipates", or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "should", "would" or "occur". This
information and these statements, referred to herein as
"forward‐looking statements", are not historical
facts, are made as of the date of this news release and include
without limitation, statements regarding discussions of future
plans, estimates and forecasts and statements as to management's
expectations and intentions with respect to, among other things,
completion of the Private Placement, the use of proceeds from the
Private Placement and the payment of finders' fees under the
Private Placement.
These forward‐looking statements involve
numerous risks and uncertainties and actual results might differ
materially from results suggested in any forward-looking
statements. These risks and uncertainties include, among other
things, the Company not receiving the necessary regulatory
approvals in respect of the Private Placement; recent market
volatility; and the state of the financial markets for the
Company's securities.
In making the forward looking statements in this news
release, the Company has applied several material assumptions,
including without limitation, that the Company will receive the
necessary regulatory approvals in respect of the Private
Placement.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements 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 statements and
forward-looking information. Readers are cautioned that reliance on
such information may not be appropriate for other purposes. The
Company does not undertake to update any forward-looking statement,
forward-looking information or financial out-look that are
incorporated by reference herein, except in accordance with
applicable securities laws. We seek safe harbor.
SOURCE Scottie Resources Corp.
