TORONTO, Dec. 17, 2021 (GLOBE NEWSWIRE) -- Canadian GoldCamps Corp. (“Canadian GoldCamps”, or the “Company”) (CSE: CAMP) (FSE: A68) (OTC: SMATF) today announced that it has closed the over subscribed second tranche (the “Second Tranche”) of the previously announced non-brokered private placement (the “Private Placement”). Pursuant to the Second Tranche, the Company has issued an aggregate of 4,795,284 units (“Units”) for gross aggregate proceeds of $1,678,349.40. Each Unit was issued at a price of CAD$0.35 and comprised of one common share of the Company (each a “Common Share”) and one common share purchase warrant (each a “Warrant”). Each Warrant is exercisable to acquire one additional Common Share for a period of 24 months following the closing date at an exercise price of CAD$0.70 per Common Share. Proceeds from both tranches of the Private Placement totalled $3,124,280.25.
The Company intends to use the net proceeds from the Private Placement to advance its exploration projects. The Units have been issued on a private placement basis pursuant to applicable exemptions from prospectus requirements under applicable securities laws. All securities issued or issuable pursuant to the Private Placement are subject to a hold period of four months and one day.
About Canadian GoldCamps Corp.
Canadian GoldCamps Corp. is a Canadian-based junior exploration stage company engaged in the evaluation, acquisition and exploration of lithium properties in Peru. For additional information, please visit Canadian GoldCamp’s website: https://www.goldcamps.ca/.
For further information, please contact:
Brendan Purdy, Interim CEO
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the private placement, property option, change of board or reinstatement of trading referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.