Mr. Robert Edwards reports
AFFINITY METALS CORP. CLOSES FULLY SUBSCRIBED $600,000 NON-BROKERED FINANCING AND LAUNCHES ONLINE MARKETING AND CEO VERIFIED FORUM ON AGORACOM TO RAISE AWARENESS FOR THE COMPANY
Affinity Metals Corp. has closed the fully subscribed non-brokered private placement previously announced on Sept. 3, 2019, as amended on Sept. 9, 2019. Under this offering, the company has issued six million units for gross proceeds of $600,000. No finders' fees were paid in connection with this offering. All securities issued in this offering are subject to a hold period expiring Jan. 18, 2020, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
Three insiders subscribed for a total of 1.5 million units, having an aggregate subscription price of $150,000. Participation by insiders in the offering is considered a related-party transaction pursuant to Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the insiders' participation in the offering in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the offering by the insiders did not exceed 25 per cent of the fair market value of the company's market capitalization. The company did not file a material change report at least 21 days prior to the closing of the offering as participation of the insiders had not been confirmed at that time.
Affinity Metals chief-executive-officer-verified discussion forum on Agoracom to act as primary investor social media and on-line marketing platform
The company is also pleased to announce the launch of a CEO-verified discussion forum on Agoracom. The forum will serve as the company's primary social media platform to interact with both shareholders and the broader investment community in a fully moderated environment.
Agoracom CEO verified provides the first ever identity verification of small-cap executives on a finance platform, which will provide Affinity Metals executives and shareholders with a trusted on-line forum. There are no log-in requirements for investors to visit the forum and read posts. Those wishing to post questions and comments and interact with both company officers and other shareholders can quickly log in using their Facebook or LinkedIn accounts, or create an anonymous new user account.
Robert Edwards, president and chief executive officer, stated: "Social media participation has become an extremely important aspect of any growing business. Agoracom forums are purpose-built to facilitate intelligent discussion without the nonsense that plagues other such sites. We are pleased to have a medium now available for our company where everyone can read and participate in our CEO-verified discussion forum to create vibrant and constructive interaction for the long-term benefit of everyone."
George Tsiolis, Agoracom founder, stated: "Affinity Metals executives have an excellent track record of developing promising projects. The company's Regal project, with its historical resource, is another great example of this. The company will have a lot to say as it brings it up to [National Instrument] 43-101 standards, making their CEO-verified discussion forum a home for trusted information, full transparency and civilized 24-seven-365 interaction."
In addition to the CEO-verified forum, the company will also receive significant exposure through millions of content brand insertions on the Agoracom network, extensive search engine marketing and social media engagement, targeting investors with preference for advanced projects over the next 12 months. Sponsorships of digital properties such as Agoracom TV, the Agoracom home page and the Agoracom Twitter account will serve to significantly raise the brand awareness of Affinity Metals amongst small-cap investors.
Shares for services
The company has entered into an agreement with Agoracom in conjunction with the above services. Pursuant to the agreement, the company will pay Agoracom $60,000 (plus HST) in consideration for the services Agoracom will provide to the company during the 12-month term of the agreement. Subject to the approval of the TSX-V, the company intends to pay this fee with one payment after the initial set-up and on a quarterly basis thereafter through the issuance of common shares, on a shares-for-service basis. The number of shares to be issued at the end of each period will be determined by using the closing price of the company's common shares on the TSX Venture Exchange on the first trading day following the end of each period for which the services were provided by Agoracom.
About Affinity Metals Corp.
Affinity is a Canadian mineral exploration company, building a strong portfolio of mineral projects in North America. The corporation's flagship property is the Regal polymetallic property, located near Revelstoke, B.C.
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