22:09:14 EST Thu 27 Jan 2022
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or Name

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Core Assets Corp
Symbol CC
Shares Issued 21,216,000
Close 2021-08-25 C$ 0.10
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ORIGINAL: Core Assets Announces Closing of Private Placement and Oversubscribed Flow-through Private Placement for Gross Proceeds of $962,860.00

2021-08-25 13:59 ET - News Release

VANCOUVER, BC / ACCESSWIRE / August 25, 2021 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(Frankfurt:5RJ WKN:A2QCCU)(ISIN:CA 21871U 10 5) is pleased to announce that it has completed its previously announced non-brokered private placement (the "Offering"), as described in its News Release of August 13, 2021, pursuant to which it has issued an aggregate of 11,012,000 units (each, a "Unit") at a price of $0.055 per Unit for gross proceeds of $605,660.00. Each Unit is comprised of one common share (each, a "Share") in the capital of the Company and one-half of one transferable share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional Share (each, a "Warrant Share") in the capital of the Company for a period of 24 months from the closing date at an exercise price of $0.25 per Warrant.

The Company also announces that it has completed its previously announced non-brokered flow-through private placement (the "Flow-through Offering"), as described in its News Release of August 25, 2021, pursuant to which it has issued an aggregate of 4,465,000 Shares, issued on a "flow-through basis" pursuant to the Income Tax Act (Canada) and the Taxation Act (British Columbia), at a price of $0.08 per Share for aggregate gross proceeds of $357,200.00. The Offering was oversubscribed by $37,200.00.

The Company did not pay any cash finder's fees in connection with the Offering or the Flow-through Offering.

The aggregate gross proceeds from the sale of the Offering and the Flow-through Offering will be used for working capital and for an expanded exploration program on the Company's Atlin Mining District project.

The securities issued under the Offering and the Flow-through Offering, and the shares that may be issuable on exercise of the Warrants, are subject to a statutory hold period expiring one year from the date of closing.

Nicholas Rodway, the Chief Executive Officer and a director of the Company, was issued 2,050,000 Units under the Offering and 1,560,000 Shares under the Flow-through Offering, Scott Rose, a director of the Company, was issued 1,460,000 Units under the Offering and Sean Charland, a director of the Company, was issued 910,000 Units under the Offering and 625,000 Shares under the Flow-through Offering, each of which constitutes a "related party transaction" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The issuance to the insiders is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related parties did not exceed 25% of the Company's market capitalization.

Additionally, Core Assets has engaged TDM Financial to provide the Company with marketing solutions beginning August 25th, 2021. The marketing solutions will include content creation and distribution, press release distribution, video production, a social media presence and more. Since 2007 TDM Financial has helped over 400 private and public companies raise millions of dollars and attract new, educated stakeholders via its flagship SECFilings.com property and network. The promotional activity in this contract will take place though various social media platforms including SECFilings.com and other web-based channels. TDM financial is located at 600E 8th St. Whitefish, MT, USA 59937. Tel. 1-800-210-6793.

In consideration for the services provided by TDM Financial, Core Assets has agreed to pay $30,000 USD upon execution of the agreement, with the agreement in effect until January 15th, 2022. The Company is at arm's length from TDM Financial.

About Core Assets Corp.

Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in B.C., Canada. The company currently holds the Blue Property, that covers a land area of 26,100 Ha (261 km²). The project lies within the Atlin Mining District, a well-known gold mining camp. The Property hosts a major structural feature known as the Llewellyn Fault Zone ("LFZ"). This structure is approximately 140km in length and runs from the Yukon border down through the property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1970's. The LFZ plays an important role in mineralization of near surface metal occurrences across the property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits both globally and in BC's Golden Triangle. The company has leveraged this information at the Blue Property to develop an exploration model and believes this could facilitate a major discovery. Core Assets is excited to become one of Atlin Mining District's premier explorers where its team believes there are substantial opportunities for new discoveries and development.

On Behalf of the Board of Directors

"Nick Rodway"
Nick Rodway
President & CEO
Tel: 604.681.1568

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Core Assets Corp.

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