CALGARY, Sept. 15, 2017 /CNW/ - Ikkuma Resources
Corp. ("Ikkuma" or the "Corporation")
(TSX VENTURE: IKM) is pleased to announce that it has closed
the third and final tranche of its previously announced
non-brokered private placement offering (the "Offering") of
common shares issued on a "flow-through" basis in respect of
Canadian exploration expenses under the Income Tax Act
(Canada) (the "Flow-Through
Shares"), pursuant to which the Corporation issued 2,585,400
Flow-Through Shares at a price of $0.82 per share for gross proceeds of
$2,120,028.
Across all three tranches of the Offering, the Corporation
issued in aggregate 15,091,221 Flow-Through Shares, for total
aggregate gross proceeds of $12,374,801.22.
The gross proceeds from the Offering will be used by Ikkuma to
incur eligible Canadian exploration expenses ("Qualifying
Expenditures") prior to December 31,
2018. Ikkuma will renounce the Qualifying Expenditures to
subscribers of the Flow-Through Shares for the fiscal year ended
December 31, 2017.
The Flow-Through Shares issued pursuant to the third tranche of
the Offering are subject to a statutory hold period under
applicable securities legislation until January 16, 2018. In connection with the closing
of the third tranche of the Offering, the Corporation paid a
finder's fee to National Bank Financial Inc., an arm's length
eligible person, consisting of a cash payment in the aggregate
amount of $4,100.
This news release does not constitute an offer to sell or
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
About Ikkuma Resources Corp.
Ikkuma Resources Corp. is a diversified junior public oil and
gas company listed on the TSX Venture Exchange under the symbol
"IKM", with holdings in both conventional and unconventional
projects in Western Canada. The technical team has worked
together for over a decade in the Foothills Region of Western Canada, through two successful,
publicly traded companies. The unique skills and repeat
success at exploiting a complex, potentially prolific play type are
fundamental ingredients for a successful growth-oriented company in
Western Canada. Corporate information can be found at:
www.ikkumarescorp.com.
Forward-Looking Statements and Information and Cautionary
Statements
This press release contains forward looking statements and
forward looking information within the meaning of applicable
securities laws including, without limitation, those listed under
"Risk Factors" and "Forward-looking Statements" in Ikkuma's Annual
Information Form and in its other filings available on SEDAR at
www.sedar.com. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward looking
statements or information. Forward-looking statements and
information in this press release includes, but is not limited to,
the use of proceeds from the Offering. Although Ikkuma believes
that the expectations and assumptions on which the forward looking
statements and information are based are reasonable, undue reliance
should not be placed on the forward looking statements and
information because Ikkuma cannot give any assurance that they will
prove to be correct. 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. These include but are not
limited to the risks associated with the oil and gas industry in
general (e.g., operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
or development projects or capital expenditures; the uncertainty of
reserve estimates; the uncertainty of estimates and projections
relating to production, costs and expenses; failure to obtain
necessary regulatory approvals for planned operations; health,
safety and environmental risks; uncertainties resulting from
potential delays or changes in plans with respect to exploration or
development projects or capital expenditures; volatility of
commodity prices, currency exchange rate fluctuations; imprecision
of reserve estimates; and competition from other explorers) as well
as general economic conditions, stock market volatility, and the
ability to access sufficient capital. We caution that the
foregoing list of risks and uncertainties is not
exhaustive.
In addition, the reader is cautioned that historical results
are not necessarily indicative of future performance. The
forward-looking statements and information contained in this press
release are made as of the date hereof and Ikkuma undertakes no
obligation to update publicly or revise any forward looking
statement or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws.
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.
SOURCE Ikkuma Resources Corp.