/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES/
MIRAMICHI, NB, Dec. 12, 2017 /CNW/ - SLAM Exploration
Ltd. (TSXV: SXL) (the "Company") announces an increase in its
private placement with an additional 1,500,000 non-flow-through
units (the "Units") and an additional 1,500,000 flow-through units
(the "FT Units"). The increased private placement will now
comprise up to 3,500,000 non-flow-through units a price of
$0.05 per Unit and up to 9,500,000
flow-through units (the "FT Units") at a price of $0.05 per FT Unit for gross proceeds of up to
$650,000 (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.