Mr. Jeff Swinoga reports
EXPLOITS ANNOUNCES NON-BROKERED CHARITY FLOW THROUGH FINANCING WITH STRATEGIC INVESTOR AND FLOW THROUGH SHARE PRIVATE PLACEMENT
Exploits Discovery Corp. proposes to undertake an up-to-$346,154 non-brokered private placement of charity flow-through common shares of the company at a price of nine cents per charity FT share. Each charity FT share will qualify as a flow-through share (within the meaning of Subsection 66(15) of the Income Tax Act (Canada)).
The company has also arranged an additional non-brokered private placement with one investor for two million flow-through common shares at a price of eight cents per FT share for gross proceeds of $160,000.
The company will use an amount equal to the gross proceeds received from the sale of the charity FT shares and the FT shares to incur eligible Canadian exploration expenses that qualify as flow-through mining expenditures, as both terms are defined in the tax act, related to the company's projects in Newfoundland and Labrador, Canada, on or before Dec. 31, 2025, and will renounce all the qualifying expenditures in favour of the subscribers of the charity FT shares and FT shares effective Dec. 31, 2024.
Finders' fees may be payable, in accordance with the policies of the Canadian Securities Exchange, and all securities issued and sold under these financings will be subject to a four-month-and-one-day hold period under securities laws in Canada. The company expects to complete the charity FT share and FT share financings on or before Nov. 14, 2024.
About Exploits Discovery Corp.
Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. Exploits is utilizing its experienced, talented local team and geologic understanding with the vision to become one of the most successful explorers in Canada.
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