Mr. Conan McIntyre reports
CHURCHILL ANNOUNCES FULLY COMMITTED $3 MILLION PRIVATE PLACEMENT
Churchill Resources Inc. has arranged a fully committed non-brokered private placement of 37.5 million common shares in the capital of the company at a price of eight cents per common share for total gross proceeds of $3-million.
The net proceeds of the offering are expected to be used by the company to advance its strategic assets in Newfoundland and Labrador, including the Black Raven antimony-gold project (which hosts the past-producing Frost Cove antimony mine), and for working capital and general corporate purposes.
The company expects to pay finders' fees in connection with the offering to certain eligible finders in the form of: (i) a cash commission equal to 7.0 per cent of the gross proceeds raised under the offering from investors introduced to the company by eligible finders; and (ii) the issuance of such number of non-transferable common share purchase warrants of the company equal to 7.0 per cent of the common shares issued pursuant to the offering from investors introduced to the company by eligible finders. Each finder's warrant shall be exercisable into one common share at the issue price for a period of 24 months following the date of issuance.
Closing of the offering is expected to occur on or about Sept. 25, 2025, and is subject to the satisfaction of certain conditions, including receipt of all applicable regulatory approvals, including the approval of the TSX Venture Exchange.
About
Churchill Resources Inc.
Churchill is a Canadian exploration company focused on strategic, critical minerals in Canada, principally at its prospective Black Raven, Taylor Brook and Florence Lake properties in Newfoundland and Labrador. The Churchill management team, board and advisers have decades of combined experience in mineral exploration and in the establishment of successful publicly listed mining companies, both in Canada and around the world. Churchill's Newfoundland and Labrador projects have the potential to benefit from the province's large and diversified mineral industry, which includes world-class nickel mines and processing facilities, and a well-developed mineral exploration sector with locally based drilling and geological expertise.
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