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TORONTO, May 6, 2020 /CNW/ - Central Timmins
Exploration Corp. ("CTEC" or the "Corporation")
(TSXV: CTEC) announces that it has received final TSX Venture
Exchange approval for the non-brokered private placement (the
"Offering") that closed on April 15,
2020 (see news release dated April
16, 2020).
The Offering consisted of the sale of 10,000,000 common shares
of the Company (the "Shares") at a price of $0.05 per Share for aggregate gross proceeds of
$500,000. All securities issued
pursuant to the Offering are subject to a four month and one day
hold period under applicable securities laws, expiring on
August 16, 2020.
About Central Timmins Exploration Corp.
CTEC is an
early-stage Canadian junior exploration company with property
primarily within the city limits of Timmins in the Porcupine Mining District in
the northeastern region of Ontario. The Corporation's assets are
prospective for gold as well as a suite of base metals. See the
company website at www.centraltimmins.com.
Forward Looking Information
This press release contains "forward-looking information"
within the meaning of applicable securities laws that is intended
to be covered by the safe harbours created by those laws.
"Forward-looking information" includes statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology and
includes statements relating to, among other things, the timing of
the posting for trading of the post-consolidation Common
Shares.
Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made. Furthermore,
such forward-looking information involves a variety of known and
unknown risks, uncertainties and other factors which may cause the
actual plans, intentions, activities, results, performance or
achievements of the Corporation to be materially different from any
future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking
information. See "Particulars of Matters to be Acted Upon at the
Meeting – Share Consolidation – Risk Factors" in the Information
Circular and "Risk Factors" in the Corporation's final prospectus
dated October 4, 2018 filed on SEDAR
at www.sedar.com for a discussion of these risks.
CTEC cautions that there can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, investors should not
place undue reliance on forward-looking information.
Except as required by law, CTEC does not assume any
obligation to release publicly any revisions to forward-looking
information contained in this press release to reflect events or
circumstances after the date hereof.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Central Timmins Exploration Corp
