/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES./
VANCOUVER, BC, June 18, 2021 /CNW/ - KORE Mining Ltd. (TSXV:
KORE) (OTCQX: KOREF) ("KORE" or the "Company") is
pleased to announce that it has closed its previously announced
bought deal public offering (the "Offering"). Pursuant to
the Offering, the Company issued 8,422,000 units (the
"Units") of the Company at a price of $0.95 per Unit for aggregate gross proceeds of
$8,000,900.
Each Unit consists of one common share in the capital of the
Company and one half of one common share purchase warrant (each
whole common share purchase warrant, a "Warrant"). Each
Warrant entitles the holder thereof to purchase one common share of
the Company at a price of $1.35 until June 18,
2023.
The Offering was completed through a syndicate of underwriters
led by Canaccord Genuity Corp. and including PI Financial Corp. and
Cormark Securities Inc.
The Units were offered by way of a short form prospectus dated
June 11, 2021 (the
"Prospectus") filed with the securities regulatory
authorities in each of the provinces of Canada, except Québec, and in
the United States on a private
placement basis pursuant to an exemption from the registration
requirements of the United States
Securities Act of 1933, as amended.
The Company plans to use the net proceeds from the Offering for
the advancement of its gold assets in California, as well as for general corporate
and working capital purposes, all as more particularly described in
the Prospectus.
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 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
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
Certain of the statements made and information contained herein,
including the intended use of proceeds of the Offering, is
"forward-looking information" within the meaning of applicable
Canadian securities legislation or "forward-looking statements"
within the meaning of the Securities Exchange Act of 1934 of
the United States. Generally,
these forward-looking statements or information can be identified
by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "will" "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results
to differ from those reflected in the forward-looking statements,
including, without limitation, risks and uncertainties relating to
foreign currency fluctuations; risks inherent in mining including
environmental hazards, industrial accidents, unusual or unexpected
geological formations, ground control problems and flooding; risks
associated with the estimation of mineral resources and reserves
and the geology, grade and continuity of mineral deposits; the
possibility that future exploration, development or mining results
will not be consistent with the Company's expectations; the
potential for and effects of labor disputes or other unanticipated
difficulties with or shortages of labour or interruptions in
production; actual ore mined varying from estimates of grade,
tonnage, dilution and metallurgical and other characteristics; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; uncertain political and economic environments;
changes in laws or policies, foreign taxation, delays or the
inability to obtain necessary governmental permits; and other risks
and uncertainties, including those described under risk factors in
the Company's current Annual Information Form and management
discussion and analysis. Should one or more of these risks and
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those described
in forward-looking statements. The forward-looking information
contained herein is presented for the purpose of assisting
investors in understanding the Company's plans and objectives and
may not be appropriate for other purposes. Accordingly, readers are
advised not to place undue reliance on forward-looking
statements.
SOURCE Kore Mining