Currie Rose Announces Terms for Non-Brokered Private Placement to Raise C$2,400,000

Toronto, Ontario–(Newsfile Corp. – September 22, 2022) – Currie Rose Resources Inc. (TSXV: CUI) (“Currie Rose” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) for gross proceeds of up to C$2,400,000, comprising up to 80,000,000 units of the Company (each, a “Unit”) at a price of C$0.03 per Unit, each Unit comprised of one common share and one half of one (½) common share purchase warrant (a “Warrant”).

Each full Warrant will be exercisable to purchase an additional share of the Company at a price of C$0.05 for a period of two years from the closing date of the Offering (the Closing Date”). 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.

The Company is relying on the minimum pricing amendments announced by the TSX Venture Exchange (“TSXV”) on June 23, 2022 (the “Pricing Amendment”) in offering the Units at a price that is less than $0.05. All securities issued under the Offering will be subject to a TSXV hold period in addition to the restricted period under applicable securities laws and will be legended accordingly.

Of the total proceeds to be raised, $220,000 is expected to be paid to Non-Arm’s Length Parties, up to $60,000 toward Investor Relations Activities, and the balance to be used to further exploration, resource confirmation and geological sampling & testing and for general working capital purposes as set out below.

Forward 12-month Period
Non-Arm’s Length Parties	$ 220,000
Investor Relations Activities	$ 60,000
Corporate G&A & Expenses	$ 150,000
Total Corporate Expenses	$ 430,000

Project Expenditures
General Project Expenses	$ 195,000
Drilling& assaying	$ 400,000 *
Consultants	$ 220,000
Metallurgical Test Work	$ 525,000 *
Environmental Studies	$ 250,000 *
Engineering Studies	$ 220,000
Total Project Expenditures	$ 1,810,000

 
* Indicates specific expenditure of >10% of Proceeds

Closing of the Offering is anticipated to be completed on or about September 28, 2022 and is subject to the approval of the TSX-V and other customary closing conditions. There can be no assurances that the Offering will be completed on the terms set out herein, or at all, or that the proceeds of the Offering will be sufficient for the uses of proceeds as set out above.

In connection with the Offering and subject to compliance with the policies of the TSXV, the Company may pay finders’ fees of up to 6% cash and 6% non-transferable warrants to eligible parties.

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.

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. Please visit our website at www.currierose.com.

For additional information, please contact:

Mike Griffiths, CEO
Office: 905-688-9115 ext. 104
Email: [email protected]

Iryna Zheliasko, Investor Relations
Office: 905-688-9115 ext. 322
Email: [email protected]

Forward-Looking Statements

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. Statements about the closing of the transaction, expected terms of the transaction, the number of securities of Currie Rose that may be issued in connection with the transaction, and the parties’ ability to satisfy closing conditions and receive necessary approvals are all forward-looking information. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138067

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