/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE
SERVICES OR DISSEMINATION IN THE UNITED
STATES/
CALGARY, May 12, 2016 /CNW/ - Ikkuma Resources
Corp. ("Ikkuma" or the "Corporation") (TSXV:
IKM) is pleased to announce that it has completed a bought deal
private placement offering (the "Offering") with a syndicate
of underwriters led by Desjardins Securities Inc. and including TD
Securities Inc., FirstEnergy Capital Corp. and Acumen Capital
Finance Partners Limited (collectively, the
"Underwriters") pursuant to which the Corporation issued
14,085,000 common shares of Ikkuma on a "flow‑through" basis
pursuant to the Income Tax Act (Canada) ("Flow-Through Shares") at a
price of $0.71 per Flow-Through Share
for gross proceeds of $10,000,350.
The gross proceeds from the Offering will be used by Ikkuma to
incur eligible Canadian exploration expenses ("Qualifying
Expenditures") prior to December 31,
2017 in the aggregate amount of $10,000,350 raised from the issue of Flow-Through
Shares. Ikkuma will renounce the Qualifying Expenditures to
subscribers of the Flow-Through Shares for the fiscal year ended
December 31, 2016.
The Flow-Through Shares issued pursuant to the Offering are
subject to a statutory hold period under applicable securities
legislation until September 13,
2016.
This news release does not constitute an offer to sell or
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.
ABOUT IKKUMA
Ikkuma Resources Corp. is a diversified junior public oil and
gas company listed on the TSXV under the symbol "IKM", with
holdings in both conventional and unconventional projects in
Western Canada. The technical team has worked together for
over a decade in the Foothills Region of Western Canada,
through two successful, publicly traded companies. The unique
skills and repeat success at exploiting a complex, potentially
prolific play type are fundamental ingredients for a successful
growth-oriented company in Western Canada. Corporate
information can be found at: www.ikkumarescorp.com.
Forward-Looking Statements and Information and Cautionary
Statements
This press release contains forward looking statements and
forward looking information within the meaning of applicable
securities laws. The use of any of the words "expect",
"anticipate", "continue", "estimate", "objective", "ongoing",
"may", "will", "project", "should", "believe", "plans", "intends"
and similar expressions are intended to identify forward looking
statements or information. Forward-looking statements and
information in this press release includes, but is not limited to,
the use of proceeds from the Offering. Although Ikkuma
believes that the expectations and assumptions on which the forward
looking statements and information are based are reasonable, undue
reliance should not be placed on the forward looking statements and
information because Ikkuma cannot give any assurance that they will
prove to be correct. Since forward looking statements and
information address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Actual
results could differ materially from those currently anticipated
due to a number of factors and risks. These include but are not
limited to the risks associated with the oil and gas industry in
general (e.g., operational risks in development, exploration and
production; delays or changes in plans with respect to exploration
or development projects or capital expenditures; the inability to
meet expectations in respect of the amount or timing of Qualifying
Expenditures; the uncertainty of reserve estimates; the uncertainty
of estimates and projections relating to production, costs and
expenses; failure to obtain necessary regulatory approvals for
planned operations; health, safety and environmental risks;
uncertainties resulting from potential delays or changes in plans
with respect to exploration or development projects or capital
expenditures; volatility of commodity prices, currency exchange
rate fluctuations; imprecision of reserve estimates; and
competition from other explorers) as well as general economic
conditions, stock market volatility, and the ability to access
sufficient capital. We caution that the foregoing list of risks and
uncertainties is not exhaustive.
The forward-looking statements contained in this document are
made as of the date hereof and Ikkuma does not undertake any
obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information,
future events or otherwise, unless so required by applicable
securities laws. Please refer to Ikkuma's Annual Information Form
dated April 13, 2016 for additional
risk factors relating to Ikkuma which is available for viewing on
www.sedar.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
RELATED LINKS
www.ikkumarescorp.com
SOURCE Ikkuma Resources Corp.