July 4th, 2023 – Kiplin Metals Inc. (the “Company” or “Kiplin”) (TSX-V: KIP, FWB: 17G1) has elected to revise the terms of its continuing non-brokered private placement being conducted under the listed issuer financing exemption (as defined below). The offering will now consist of up to 17,647,059 units of the company at a price of 17 cents per unit to raise gross proceeds of up to $3-million. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one common share of the company at a price of 23 cents at any time on or before that date which is 12 months after the closing date of the offering.
The net proceeds raised from the offering will continue to be used to advance the coming exploration program on the Cluff Lake Road (CLR) uranium project, located in the southwestern Athabasca basis of Northern Saskatchewan, and for general working capital purposes.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 — Prospectus Exemptions, the offering is being made to purchasers resident in Canada, except Quebec, pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106. The securities offered under the listed issuer financing exemption will not be subject to a hold period in accordance with applicable Canadian securities laws. A revised offering document related to the offering will be filed by the company, and will be accessible under the company’s profile on SEDAR+ and on the company’s website. Prospective investors should read this offering document before making an investment decision.
The company may pay finders’ fees to eligible parties who have assisted in introducing subscribers to the offering. Closing of the offering remains subject to the approval of the TSX Venture Exchange.
About Kiplin Metals Inc.
Kiplin Metals Inc. is a mineral exploration company. We create value for our shareholders by identifying and developing highly prospective mineral exploration opportunities. Our strategy is to advance our projects from discovery to production, allowing Kiplin to achieve exceptional shareholder value through the entire life-cycle of mining.
Cluff Lake Road Uranium Project. Kiplin has the right to earn a one-hundred percent interest in the Cluff Lake Road Uranium Project (the “CLR Project”). The CLR Project covers ~531 ha in the southwestern Athabasca Basin in northern Saskatchewan, where several new discoveries have been made, including the Arrow and Triple R Uranium deposits. The CLR Project is 5 km east of the Cluff Lake Road (Hwy 955), which leads to the historic Cluff Lake Mine, which historically produced approximately 62,000,000 lbs of yellowcake uranium.
For further information, contact the Company at [email protected], or visit the Company’s website at www.kiplinmetals.com.
On behalf of the Board,
For further information, contact the Company at 604-622-1199.
On behalf of the Board of Directors,
“Peter Born”
Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company 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. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.