Currie Rose Announces Completion Of Private Placement Of $2.37 Million And Provides Corporate Update
Currie Rose Resources Inc. (TSXV: CUI) (“Currie Rose” or the “Company”) is pleased to announce the completion of the previously announced non-brokered private placement. The Company has issued an aggregate of 79,000,001 Units at a price of C$0.03 per Unit for aggregate gross proceeds of C$2,370,000.03. Each Unit consists of one common share and one half of one (1/2) common share purchase warrant (a “Warrant”).
Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of C$0.05 per Common Share at any time prior to October 14, 2024. If the volume-weighted average price of the common shares of the Company on the TSX Venture Exchange over the preceding 20 trading days is greater than C$0.15, the Company can elect to accelerate the term of the Warrants to 30 calendar days following the date a press release announcing the notice of acceleration is issued.
Mike Griffiths, CEO, President and Director, said: “The fundraising for our North Queensland Vanadium Project has been a tremendous success, and its completion is a great milestone in the development of the Company. We are now well funded to advance our critical Vanadium project towards a Preliminary Economic Assessment (PEA) planning is well underway with the next phases of drilling and metallurgical test work being the focus of our efforts over the next 6 to 8 months.”
In connection with the closing, the Company will pay a cash fee of C$123,000 and issue 4,100,000 warrants (the “Finders’ Warrants”) to eligible Finders. Each Finder Warrant entitles the holder to acquire one Common Share at a price of C$0.05 per share any time prior to October 14, 2024.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer for sale of securities in the United States.
Corporate Update
The Company also announces that Mr. Robert Kirtlan has resigned from the Company’s board of directors effective immediately. The directors and the management team would like to thank Mr. Kirtlan for his valuable contributions and guidance over many years and wish him well in his future endeavours.
As part of its new battery metals focus, Currie Rose has launched a new website, where investors can get additional information on the North Queensland Vanadium Project as well as vanadium applications and markets.
About Currie Rose Resources Inc.
Currie Rose is a publicly traded battery metals explorer and developer focused on identifying high-value assets in mining-friendly jurisdictions. The Company’s immediate focus is the advanced North Queensland Vanadium Project in Queensland, Australia.
www.ferroalloynet.com
