VANCOUVER, BC, Aug. 17,
2022 /CNW/ - Stuhini Exploration Ltd. (the
"Company" or "Stuhini") (TSXV: STU) (OTCPK: STXPF) is
pleased to announce that, due to demand from potential investors,
its non-brokered private placement announced on August 2, 2022 has been increased by $420,000 for total aggregate gross proceeds to
the Company of up to $1.92 million
(the "Private Placement").
The Private Placement will consist of a combination of: (i)
flow-through units of the Company ("FT Units") at a price of
$0.45 per FT Unit; and (i) non-flow
through units of the Company ("NFT Units") at a price of
$0.40 per NFT Unit.
The terms of the Private Placement, the FT Units and NFT Units,
the proposed use of proceeds, possible finders' fees and some
anticipated insider placees are otherwise as previously disclosed
in the Company's news release dated August
2, 2022.
The Private Placement will close in multiple tranches, with the
first tranche of the Private Placement having closed on
August 4, 2022. The Private Placement
is subject to certain conditions including, but not limited to, the
receipt of all necessary regulatory approvals including the
approval of the TSX Venture Exchange. All securities to be issued
pursuant to the Private Placement will have a hold period of four
months and one day from the closing of the applicable tranche of
the Private Placement.
About Stuhini Exploration
Ltd.
Stuhini is a mineral exploration company focused on the
exploration and development of it's base and precious metal
properties. The Company's portfolio of exploration properties
includes: its flagship, the Ruby Creek Property, located
approximately 20 km east of Atlin,
BC; the Que Project located approximately 70 km north of
Johnson's Crossing in the Yukon;
the South Thompson Project located approximately 35 km northwest of
Grand Rapids, Manitoba; and the
Big Ledge Property located approximately 57 km south of
Revelstoke, BC.
FORWARD-LOOKING
STATEMENTS
This news release contains "forward-looking statements" within
the meaning of Canadian securities legislation. Such
forward‑looking statements or information are based on a number of
assumptions which may prove to be incorrect. Assumptions have been
made regarding, among other things: conditions in general economic
and financial markets; timing and amount of capital
expenditures; timing and amount of qualifying expenditures
incurred in connection with the FT Units; and effects of
regulation by governmental agencies. The actual results could
differ materially from those anticipated in these forward‑looking
statements as a result of risk factors including, but not limited
to: the availability of funds; the timing and content of work
programs; results of exploration activities of mineral properties;
the interpretation of drilling results and other geological data;
general market and industry conditions; and failure to incur
qualifying expenditures in connection with the FT
Units. Forward‑looking statements are based on the
expectations and opinions of the Company's management on the date
the statements are made. The assumptions used in the preparation of
such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date the statements were
made. The Company undertakes no obligation to update or revise any
forward-looking statements included in this news release if these
beliefs, estimates and opinions or other circumstances should
change, except as otherwise required by applicable 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.
Web: www.stuhini.com
SOURCE Stuhini Exploration Ltd.
