/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
MIRAMICHI, NB, Dec. 7, 2017 /CNW/ - SLAM Exploration
Ltd. (TSXV: SXL) (the "Company") announces a private placement
of up to 2,000,000 non-flow-through units (the "Units") at a price
of $0.05 per Unit and up to 8,000,000
flow-through units (the "FT Units") at a price of $0.05 per FT Unit for gross proceeds of up to
$500,000 (the "Private
Placement"). Each Unit will be comprised of one common share
in the capital of the Company and one common share purchase
warrant. Each FT Unit will be comprised of one common share
in the capital of the Company issued on a "flow-through" basis and
one-half of one common share purchase warrant issued on a
non-flow-through basis (each whole common share purchase warrant, a
"Warrant"). Each Warrant will entitle the holder thereof to
acquire one non-flow-through common share at a price of
$0.055 for a period of 36 months from
the date of issuance. The Units and FT Units are subject to a
four-month and one day hold period from the date of issuance.
The Private Placement is offered to investors on a non-brokered
basis and expected to close on or about December 15, 2017. The Company may pay
finders' fees in accordance with the rules and policies of the TSX
Venture Exchange ("TSXV"). There may be Insider participation
for which a finder's fee will not be paid. The Private Placement
remains subject to the approval of the TSXV. For additional
information call Mike Taylor at
506-623-8960.
Proceeds received from the Units will be used for general
corporate purposes. Proceeds received from the FT Units will
be used to fund exploration on SLAM's cobalt and base metal
projects in New Brunswick.
About SLAM Exploration Ltd:
SLAM is a project
generating company that holds an NSR royalty on the Coulee,
Superjack and Nash Creek
zinc-lead-copper-silver deposits and owns a portfolio of cobalt and
base metal properties in the Bathurst Mining Camp ("BMC") of New
Brunswick. The Company intends to utilize its extensive BMC
mineral database to explore and develop properties in this historic
mineral-rich region. Other projects include the Menneval gold
project and the Reserve Creek gold projects in Ontario.
Additional information about SLAM and its projects is available at
www.slamexploration.com or from SEDAR filings at www.sedar.com.
Follow us on twitter @SLAMGold.
Qualifying Statements: Mike
Taylor, P.Geo. President and CEO of SLAM Exploration Ltd.,
as the Qualified Person, approves the scientific and technical
disclosure in the news release.
Certain information in this press release may constitute
forward-looking information, including statements that
address the Private Placement, the closing of the Private
Placement, future production, reserve potential, exploration
and development activities and events or developments that the
Company expects. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results
might differ materially from results suggested in any
forward-looking statements. The Company assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those reflected in
the forward looking-statements unless and until required by
securities laws applicable to the Company. There are a number of
risk factors that could cause future results to differ materially
from those described herein. Information identifying risks and
uncertainties is contained in the Company's filings with the
Canadian securities regulators, which filings are available at
www.sedar.com. Neither the TSXV nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE SLAM Exploration Ltd.