TORONTO, ONTARIO--(Marketwired - July 17, 2017) - Minsud Resources Corp. (TSX VENTURE:MSR) ("Minsud" or the "Company") announces that it intends to complete, subject to the approval of the TSX Venture Exchange (the "TSXV"), a non-brokered private placement of units of the Company ("Units") for gross proceeds of up to $650,000 (the "Private Placement") at $0.10 per Unit, with each Unit consisting of one common share of the Company (each, a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant is exercisable into one Share at $0.15 for a term of two years from the date of issue.
The net proceeds will be used to continue exploring the Cu-Mo-Ag-Au deposit at the Chita porphyry including metallurgical tests, payments related to option agreements and financing of mining rights acquisitions, as well as working capital and corporate overhead requirements.
No commission or finder's fee will be paid in connection with the Private Placement. The Shares will be subject to a hold period of four months and a day from their date of issuance. The Company expects to complete the Private Placement within 30 days.
A portion of the gross proceeds is expected to be subscribed for by insiders of the Company. Any such subscription will be considered to be a related party transaction within the meaning of TSX-V Policy 5.9 which incorporates Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.
About Minsud Resources Corp.:
Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag Project, in the Province of San Juan, Argentina. The Company also owns the La Rosita Property (9,700 ha), a low sulphidation style Ag-Au mineralization prospect in the Deaseado Massif Ag-Au mining district, Santa Cruz Province, Argentina.
