MONTREAL, Feb. 17, 2021 /CNW/ - AM Resources
Corporation ("AM" or the "Corporation") (TSXV:
AMR) (Frankfurt: 76A) is pleased
to announce that it will raise up to $1,300,000 by way of a non-brokered private
placement of units (the "Units") of the Corporation at a
price of $0.04 per Unit (the
"Offering").
Each Unit of the Offering is comprised of one common share of
the Corporation (each a "Share") and one share purchase
warrant (each a "Warrant"). Each Warrant will entitle
the holder to acquire one additional Share in the capital of the
Corporation at a price of $0.05 per
Warrant for a period of two (2) years from the date the Units are
issued.
The pricing of the Offering is based on the temporary relief
measures established by the TSXV on April 8,
2020, and extended September 16,
2020, in response to the COVID-19 pandemic. The TSXV
published the temporary relief measures to Policy 4.1 and Policy
4.3, lowering the minimum pricing from $0.05 to $0.01 per
share for shares issued pursuant to a private placement or debt
settlement when the market price of an issuer's shares is not
greater than $0.05.
The securities will be offered to qualified purchasers in
reliance upon exemptions from prospectus and registration
requirements of applicable securities legislation. A finder's fee
in cash or shares may be paid to eligible finders in relation to
this financing. Proceeds from this financing will be used for
general operating purposes. This Offering is subject to approval by
the TSX Venture Exchange ("TSXV").
The offered securities will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities
Act") and may not be offered or sold within the United States or to or for the account or
benefit of U.S. persons, except in certain transactions exempt from
the registration requirements of the U.S. Securities Act. This
press release does not constitute an offer to sell, or the
solicitation of an offer to buy, securities of the Corporation in
the United States.
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.