Excalibur Resources Ltd. Arranges $2 Million Financing
12.11.2016 | Marketwire
TORONTO, Nov. 11, 2016 - Excalibur Resources Limited ("Excalibur" or the "Company") (CSE:XBR) (CSE:XBR.CN) (OTC PINK:EXCFF) (FRANKFURT:X9CN) is pleased to announce that it has arranged a non-brokered private placement of 20,000,000 Units at $0.10 per Unit for a total of $2,000,000. Each Unit consists of one common share and one-half of one common share purchase warrant. Each full warrant is exercisable to acquire an additional common share at $0.15 per share for a period of two years from the closing date. All securities issued in connection with the offering are subject to a four-month-and-a-day hold period.Proceeds will primarily be applied in respect of the first cash milestone payment as per the binding agreement with International Explorers and Prospectors Inc.("IEP") to acquire 100% of three net smelter royalties ("NSR") on properties located in Timmins.
"Excalibur is on a clear and aggressive path to combine a portfolio of prospective gold royalties with a pipeline of precious metal streams on producing public and private mines, in order to compare favourably with the successful and proven business model of the royalty and streaming peer group," commented Tim Gallagher, Chairman and CEO of Excalibur.
Excalibur Resources Ltd. is a precious metals royalty and streaming company engaged in the acquisition and management of precious metal royalties, streams and similar production based interests.
On behalf of the Board of Directors:
Tim Gallagher
Chairman & CEO
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact
Excalibur Resources Ltd.
Tim Gallagher, Chairman & CEO
416-925-0090
tim@excaliburresources.ca
www.excaliburresources.ca or www.metallaroyalty.com