/NOT FOR DISTRIBUTION TO UNITED STATED NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED
STATES/
ROUYN-NORANDA, QC, Sept. 26,
2024 /CNW/ - Fokus Mining Corporation ("Fokus"
or the "Company") (TSXV: FKM) (OTCQB: FKMCF) (FSE:
F7E1) is pleased to announce that further to its news release
dated September 12, 2024, that due to
strong market demand, the Company is upsizing its previously
announced non-brokered private placement from a minimum of
$1,500,000 to $1,875,000 subject to increase at the discretion
of the board of directors of the Company. The up-sized offering
(the "Offering") will be comprised of: (i) approximately
$875,000 in proceeds raised via the
issuance of units of the Company (the "Units") at a price of
$0.05 per Unit and (ii) $1,000,000 in proceeds raised via the issuance of
flow-through units of the Company (the "FT Units" and
together with the Units, the "Offering Units") at a price of
$0.08 per FT Unit. Each Unit will be
comprised of one common share in the capital of the Company (a
"Common Share") and one Common Share purchase warrant (a
"Warrant"). Each FT Unit will be comprised of one
"flow-through" common share (a "FT Share") and one Warrant.
Each Warrant will entitle its holder to acquire one Common Share at
a price of $0.08 per share for a
period of three years from the issuance date.
In all other respects, the terms of the Offering, finder's
fees and use of proceeds therefrom will remain as previously
disclosed in the original press release dated September 12, 2024.
All dollar amounts stated herein are provided in Canadian
dollars unless otherwise stated.
About Fokus
Fokus Mining Corporation is a mineral resource company actively
acquiring and exploring precious metal deposits located in the
Province of Québec, Canada. In
implementing this major undertaking within the Canadian mining
industry, it is aiming to unlock the secret of the Galloway gold project.
The 100% Galloway Project covers an area of 2,865.54 hectares
and is located just north of the Cadillac-Larder Lake deformation, which extends for
more than 100km. Numerous gold deposits are associated with the
structure and its subsidiaries. The recent work focused on the
western part of the mineral claims has allowed the Company to
delineate a NI 43-101 inferred resource of 1.419 million ounces of
gold at a price of US$1,750 per
ounce. This was published in the March
2023 press release.
The current work of the Company focuses on a western portion of
the mineral claims where several mineral occurrences have been
identified. For more information, visit our website:
fokusmining.com and the Company's NI 43-101 Technical Report and
Mineral Resource Estimate for the Galloway Project, Quebec, Canada dated effective,
March 21, 2023.
NOT FOR DISTRIBUTION TO UNITED
STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT
CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY
ANY OF THE SECURITIES IN THE UNITED
STATES. THE SECURITIES HAVE NOT BEEN AND WILL NOT BE
REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES
ACT") OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED OR
SOLD WITHIN THE UNITED STATES OR
TO U.S. PERSONS UNLESS REGISTERED UNDER THE U.S. SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION FROM SUCH
REGISTRATION IS AVAILABLE. THIS NEWS RELEASE DOES NOT CONSTITUTE AN
OFFER OR SALE OF SECURITIES IN THE UNITED
STATES.
Related Links
http://fokusmining.com/
Caution regarding forward-looking statements
This press release may contain certain forward-looking
information and statements ("forward-looking information") within
the meaning of applicable Canadian securities legislation, that are
not based on historical fact, including without limitation
statements containing the words "believes", "anticipates", "plans",
"intends", "will", "should", "expects", "continue", "estimate",
"forecasts" and other similar expressions. Readers are
cautioned to not place undue reliance on forward-looking
information. Actual results and developments may differ materially
from those contemplated by these statements, including but not
limited to, the completion of the Offering, the payment of a
finder's fee, obtaining approval of the TSXV, the jurisdictions of
the Offering, the intended use of the proceeds of the Offering, and
the number of Units, FT Units, Common Shares and Warrants to be
issued by the Company. The Company undertakes no obligation to
comment analyses, expectations or statements made by third-parties
in respect of the Company, its securities, or financial or
operating results (as applicable). Although the Company believes
that the expectations reflected in the forward-looking information
in this press release are reasonable, such forward-looking
information has been based on expectations, factors and assumptions
concerning future events which may prove to be inaccurate and are
subject to numerous risks and uncertainties, including but not
limited to: market risk; general economic risk; the approval of the
Offering on the terms proposed herein by the applicable regulatory
bodies, prices of commodities, and management's ability to execute
its business plan. The forward-looking information contained in
this press release are expressly qualified by this cautionary
statement and are made as of the date hereof. The Company disclaims
any intention and has no obligation or responsibility, except as
required by law, to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise.
This press release does not constitute an offer to sell or
the solicitation of an offer to buy securities.
The TSXV and its Regulation Services Provider have not
approved the contents of, nor taken responsibility for the adequacy
or accuracy of, this press release.
SOURCE Fokus Mining Corporation
