/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
WIRE SERVICES/
VANCOUVER, BC, June 7, 2022
/CNW/ - Zacapa Resources Ltd. (TSXV: ZACA) (OTCQB: ZACAF)
(DE: BH0) is pleased to announce a non-brokered private
placement (the "Offering") for the sale of up to 11,111,111
units (the "Units") at a price of C$0.45 per Unit for gross proceeds of up to
C$5,000,000. Each Unit will be
comprised of one common share (each, a "Unit Share") and one
half of one common share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant will entitle the holder thereof to
purchase one common share (each, a "Warrant Share") at a
price of C$0.68 for a period of 24
months following the closing date of the Offering.
Crescat Capital LLC ("Crescat"), a strategic investor,
has agreed to participate in the Offering to acquire 9.9% of the
issued and outstanding common shares of Zacapa (the "Crescat
Investment"). Following closing of the Crescat Investment,
Crescat will have an option to participate in future financings to
maintain its interest as long as Crescat holds greater than five
percent of the issued and outstanding common shares of Zacapa.
The net proceeds from the sale of Units will be used for
exploration and drilling of Zacapa's projects, including the South
Bullfrog gold project in Nevada,
and for working capital and general corporate purposes.
Finder's fees will be payable in accordance with the policies of
the TSX Venture Exchange.
The closing of the Offering is expected to occur on or about
June 15, 2022 and is subject to
receipt of all necessary regulatory approvals including the TSX
Venture Exchange. The Unit Shares, Warrant Shares and any common
shares that are issuable from any finder's warrants will be subject
to a hold period of four months and one day in accordance with
applicable securities laws.
None of the securities sold in connection with the Offering will
be registered under the United States Securities Act of 1933, as
amended, and no such securities may be offered or sold in the
United States absent registration or an applicable exemption
from the registration requirements. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
About Zacapa Resources
Zacapa is a copper and gold focused mineral exploration company
engaged in responsible exploration for the new energy economy. Its
projects are concentrated in world class jurisdictions in the
southwest U.S., including Arizona,
Nevada, and Idaho. The portfolio includes porphyry copper
projects at Red Top, Pearl, and Dewdrop and epithermal gold
projects at South Bullfrog and Miller
Mountain. These assets are being advanced by a highly
disciplined and seasoned professional team with successful track
records of discovery, resource development and mine permitting.
For more information, please visit www.zacaparesources.com. All
documents are available on Zacapa's profile page on SEDAR at
www.sedar.com.
On behalf of the Board of Directors,
"Adam Melnik"
Neither the 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.
Forward Looking Statements – Certain information set forth in
this news release may contain forward-looking statements that
involve substantial known and unknown risks and uncertainties. All
statements within, other than statements of historical fact, are to
be considered forward looking. Although Zacapa believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Zacapa
cautions that all forward-looking statements are inherently
uncertain, and that actual performance may be affected by a number
of material factors, many of which are beyond Zacapa's control.
Accordingly, actual and future events, conditions and results may
differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward-looking
information. Readers are advised to rely on their own evaluation of
such uncertainties. Except as required under applicable securities
legislation, Zacapa undertakes no obligation to publicly update or
revise forward-looking information.
SOURCE Zacapa Resources
