VANCOUVER, British Columbia, May 03, 2021 (GLOBE NEWSWIRE) -- FAR Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“FAR Resources” or the “Company”)
FAR Resources is pleased to announce that on April 29th, 2021, it closed a non-brokered private placement of $341,015.00 or 2,005,971 units at a price of 0.17 per unit (the units in accordance with the price protection filed with the Canadian Securities Exchange on March 15th, 2021). Each unit consists of one common share and one 18 months share purchase warrant. The warrant entitles the holder to purchase one common share, excisable at a price of 0.25 per share for 18 months from the date of issue. It expires November 3rd, 2022.
All securities issued under the private placement are subject to a mandatory hold period of four months plus 1 day following the closing of the private placement.
There are finders’ fees in the amount of $13,320.00.
The proceeds of this private placement will be used for the upcoming drilling program on the Winston New Mexico project on the Ivanhoe Emporia patented claims. We are waiting for permits from the state of New Mexico USA Energy, Minerals and Natural Resource department, mining, and minerals division.
Management is not aware of any material facts or material changes with respect to the company that has not been generally disclosed.
On behalf of the board of directors,
FAR Resources is a gold and silver exploration company focused in New Mexico USA. The Company owns the Winston Project, a historic mining property with the potential for High-grade silver and gold. The property is steeped in history and historic samples, full data tables available at https://farresources.com/images/investors/presentation/precious_metals_deck/precious_metals_deck_revised-26Mar2021.pdf . Far Resources also has its ZORO Lithium Project, in CANADA, located in the mining -friendly Snow Lake region of Manitoba and containing numerous known lithium deposits. The Company also holds a 60% stake in the Hidden Lake Lithium Project in the Northwest Territories.
President and CEO
Far Resources Ltd.
+1 (604) 374-5561
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
Forward Looking Statements
This news release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.