CALGARY,
AB, May 4, 2022 /CNW/ - North Peak
Resources Ltd. (TSXV: NPR) (the "Company" or "North
Peak") announces that it has filed its audited consolidated
financial statements (the "Financial Statements") and
Management's Discussion and Analysis ("MD&A") for the
year ended December 31, 2021, which
can be found under the Company's profile on SEDAR (www.sedar.com),
and which sets forth detailed operating and financial results for
the Company for 2021.
In addition, the Company today refiled its MD&A for the year
ended December 31, 2021 because an
early and incomplete draft of such MD&A was inadvertently filed
with the Financial Statements. The amended MD&A filed today is
the correct and final version of the MD&A that should be
referred to by readers and shareholders.
In 2021, the first full year since the Company completed its
"change of business" to a mining issuer, the following are the
highlights:
- Completed a non-brokered private placement of 2,299,999 common
shares at an issue price of $0.48 per
share, for aggregate gross proceeds of $1,104,000.
- Commenced a limited exploration drilling program on the
Kenogami Lake Project (formerly referred to as the Leahy Property)
located 15 kilometres southwest of Kirkland Lake Ontario, a project of which the
Company holds an option agreement to acquire 100% interest in and
to.
- Entered into an agreement where the Company was granted an
option to acquire the 2,733- acre Black Horse gold and silver
property (the "Black Horse Property") located approximately
50 miles east of Ely within the
Black Horse mining district in White Pine
County, Nevada.
Since the 2021 year-end, the Company has:
- Obtained the necessary permissions and permits to carry out its
exploration drilling programs on the Black Horse Property.
- Commenced core and reverse circulation drilling programs at the
Black Horse Property, which drilling continues at this time.
- Completed a non-brokered private placement for aggregate gross
proceeds of $5.75 million. In
connection with the private placement, 2,499,996 equity units of
the Company ("Units") were issued at a price of $2.30 per Unit. Each Unit was comprised of one
common share of the Company and one-half of one common share
purchase warrant (a "Warrant"). Each whole Warrant entitles
the holder to acquire one common share of the Company for a period
of 12 months from the date of issuance of the Warrant, at an
exercise price of $3.50 per
share.
About North Peak Resources
The Company is a Canadian based gold exploration and development
company that is listed on the TSX Venture Exchange under the symbol
"NPR". The Company holds an option to acquire the 2,733-acre Black
Horse gold and silver property located approximately 50 miles east
of Ely within the Black Horse
mining district in White Pine
County, Nevada. See the Company's January 11, 2022 press release for additional
information.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS: This news release includes certain
"forward-looking statements" under applicable Canadian securities
legislation. Forward-looking statements include, but are not
limited to, the anticipated use of proceeds of the Private
Placement, timing and completion of any drilling and work programs
on the Black Horse Property, estimates of mineralization from
drilling, geological information projected from sampling results
and the potential quantities and grades of the target zones,
potential for minerals and/or mineral resources, whether the Black
Horse Property will meet the Company's goals and standards for a
mining project and statements regarding the plans, intentions,
beliefs, and current expectations of the Company with respect to
the future business activities and operating performance of the
Company that may be described herein. Forward-looking statements
consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Such information can generally be identified
by the use of forwarding-looking wording such as "may", "expect",
"estimate", "anticipate", "intend", "believe" and "continue" or the
negative thereof or similar variations. Readers are cautioned not
to place undue reliance on forward-looking statements, as there can
be no assurance that the plans, intentions or expectations upon
which they are based will occur.
By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, estimates, forecasts, projections and other
forward-looking statements will not occur. These assumptions, risks
and uncertainties include, among other things, the state of the
economy in general and capital markets in particular, accuracy of
assay results, geological interpretations from drilling results,
timing and amount of capital expenditures; performance of available
laboratory and other related services, future operating costs, and
the historical basis for current estimates of potential quantities
and grades of target zones, as well as those risk factors discussed
or referred to in the Company's Management's Discussion and
Analysis for the year ended December 31,
2021, and the period ended September
30, 2021 available at www.sedar.com, many of which are
beyond the control of the Company. Forward-looking statements
contained in this press release are expressly qualified by this
cautionary statement.
The forward-looking statements contained in this press
release are made as of the date of this press release. Except as
required by law, the Company disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Additionally, the Company undertakes no obligation to comment on
the expectations of, or statements made by, third parties in
respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation
Service 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 North Peak Resources Ltd.