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Carmanah Minerals Corp
Symbol CARM
Shares Issued 20,308,385
Close 2023-05-16 C$ 0.085
Market Cap C$ 1,726,213
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ORIGINAL: Carmanah Appoints Karim Rayani as Strategic Advisor to the Board

2023-05-18 16:17 ET - News Release

(via TheNewswire)

Carmanah Minerals Corp.


Vancouver, BC - TheNewswire - May 18, 2023 - Carmanah Minerals Corp. (CSE:CARM), ( “Carmanah ” or the “Company” ) is pleased to announce the appointment of Mr. Karim Rayani as a Strategic Advisor and Arranger to the Company.


For the past 18 years, Mr. Rayani has been focused on financing both international and domestic mineral exploration and development. Currently, Mr. Rayani is a principal of R7 Capital Ventures Ltd., an investment family office firm with a diverse portfolio covering Natural Resources, Energy, Cleantech, Renewables, and Health related ventures all with a focus on Public Venture Capital. Prior to this, he worked independently as a Management Consultant and Financier. Presently, he also serves as Chief Executive Officer, Director of Falcon Gold Corp., Chairman, Chief Executive Officer, Director of Power One Resources Corp., Chief Executive Officer, Director of Latamark Resources Corp., Chief Executive Officer, Director of Marvel Discovery Corp., Chairman, Director of District 1 Exploration Corp., and Chief Executive Officer, Director of Auvega Labs Inc.


The Company notes that R7 Capital Ventures Ltd., a company controlled by Mr. Rayani subscribed to the Company’s most recent private placement offering as lead order, subscribing to 1,536.60 million units. The offering closed on May 04, 2023. Mr. Rayani now holds directly or indirectly, 3,563,601 Shares, 1,536,601 Warrants, and 215,000 Options, representing 18.04% of Carmanah’s current issued and outstanding common shares on a non-diluted basis, or 24.71% on a partially diluted basis (assuming the exercise of the Warrants and Options).


“We are honored to have Karim act as an advisor to the board and to have acquired a substantial position in Carmanah, his experience and success in mining finance and M&A ventures will be of great importance as we develop our Rare Earth and Energy projects.” Stated Fraser Rieche, Carmanah’s Chief Executive Officer, Director.


About Carmanah Minerals Corp.


Carmanah Minerals Corp. is a Canadian junior exploration company focused on a diversified portfolio covering Precious Metals, Energy, and Critical Elements.  The Company recently signed a Joint Venture agreement with Marvel Discovery Corp. to earn a 50% interest in the Walker Claims located along the prolific Key Lake fault adjacent to Cameco’s Mine and Mill in the Athabasca Basin, Saskatchewan. The Walker and KLR Properties lie within the Wollaston‐Mudjactic transition zone (WMTZ) of the eastern Athabasca basin, which is host to the highest‐grade uranium mines in the world. Carmanah is also actively exploring the Loljuh gold project, located in the Omineca mining division in British Columbia.


For further information, please view the Company’s filings at www.sedar.com .



Fraser Rieche

Chief Executive Officer, Director
Email: info@carmanahcorp.ca

Telephone: +1 (604) 670-0019

Disclaimer for Forward-Looking Information:

This  news  release  includes  certain  forward‐looking  statements  and  forward‐looking  information  (collectively,  “forward‐looking statements”) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content,  commencement,  and  cost  of  exploration  programs  in  respect  of  the  Company’s  projects  and  mineral  properties,  anticipated exploration program results from exploration activities, resources and/or reserves on the Company’s projects and mineral properties, the anticipated business plans and timing of future activities of the Company, anticipated completion of the Private Placements, including the approval of the Canadian Securities Exchange for the Private Placements, are forward‐looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as “pro  forma”,  “plans”,  “expects”,  “will”,  “may”,  “should”,  “budget”,  “scheduled”,  “estimates”,  “forecasts”,  “intends”,  “anticipates”, “believes”, “potential” or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward‐looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained precious and base metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration of the Company’s properties, that the COVID19  global  pandemic  will  not  affect  the  ability  of  the  Company  to  conduct  the  exploration  program  on  its  mineral  properties, the availability of financing on suitable terms, and the Company’s ability to comply with environmental, health and safety laws.


Forward‐looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results,  performance  or  achievements  of  the  Company  to  differ  materially  from  any  future results,  performance  or  achievements expressed or implied by the forward‐looking statements. Such risks and other factors include, among others, statements  as  to  the  anticipated  business  plans  and  timing  of  future  activities  of  the  Company, including  the  Company’s  proposed expenditures for exploration work on its mineral projects, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the Canadian Securities Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, risks relating to  epidemics or  pandemics  such  as  COVID–19,  as  well  as those  factors discussed  under  the  heading  “Risk  Factors”  in  the  Company’s prospectus dated April 4, 2022, and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company’s profile on the SEDAR website at www.sedar.com.


Readers are cautioned not to place undue reliance on forward‐looking statements. The Company undertakes no obligation to update any of the forward‐looking statements in this news release except as otherwise required by law.


Neither  the  Canadian  Securities  Exchange  nor  its  regulation  services  provider  accepts  responsibility  for  the  adequacy  or  accuracy of this news release.

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