Vancouver, British Columbia--(Newsfile Corp. - October 3, 2022) - Buscando Resources Corp. (CSE: BRCO) (OTCQB: BRCOF) ("Buscando" or the "Company") is pleased to announce that, further to its news release dated September 23, 2022, it has closed a non-brokered private placement offering of 1,750,000 Units of the Company (the "Units") at a price of $0.10 per Unit (the "Offering") for gross proceeds of $175,000.
Each Unit is comprised of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") at a price of $0.20 per Warrant Share for a period of 24 months from the closing of the Offering. If the closing price of the Common Shares is at a price equal to or greater than $0.20 for a period of ten consecutive trading days, Buscando will have the right to accelerate the expiry date of the warrants by giving notice, via a news release, to the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.
Proceeds from the Offering will be used for exploration, corporate development, and general working capital purposes. All securities issued pursuant to the Offering are subject to a four-month hold period under applicable Canadian securities laws.
About Buscando Resources Corp
Buscando Resources Corp. is a mineral exploration company focused on the acquisition, exploration and development of copper properties in Canada. The Company has an option to acquire a 100% interest in the Rupert Property which covers approximately 2,500 hectares on northern Vancouver Island, British Columbia.
Contact Information
For more information, please contact:
Kyler Hardy - Chief Executive Officer
E-mail: khardy@cronincapital.ca
Cautionary note regarding forward-looking statements
This press release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking information is often identified by the words "may," "would," "could," "should," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect" or similar expressions. Readers are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: changes in general economic, business and political conditions, including changes in the financial markets; decreases in the prevailing prices for products in the markets that the Company operates in; adverse changes in applicable laws or adverse changes in the application or enforcement of current laws; regulations and enforcement priorities of governmental authorities; compliance with government regulation and related costs; and other risks described in the Prospectus. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139362
