Cheetah Canyon Resources Corp. Announces Financing And Cancels Pending Gold Project
Cheetah Canyon Resources Corp. (the "Company") (TSX, April 18, 2019 - V: CHTA), announces that the Company will issue up to 10,000,000 units (the "Units") at a price of $0.05 per Unit for gross proceeds of up to $500,000 in a non-brokered private placement (the "Private Placement"). Each Unit will consist of one common share of the Company and one transferable share purchase warrant (a "Warrant"). Each whole Warrant shall be exercisable to acquire one additional common share of the Company (a "Warrant Share") for a period of 24 months at a price of $0.075 per Warrant Share. Proceeds derived from this Private Placement will be used for general working capital purposes and for evaluation of potential projects. The Private Placement is subject to TSX Venture Exchange approval. The Company also announces the cancelation of their non-brokered private placement announced October 5, 2017. Additionally, the Company has decided to not proceed with the pending acquisition of a 100% mineral interest in a gold project in Mali, Africa (the "Mali Gold Project"). This pending acquisition was subject to TSX Venture Exchange approval and previously announced on July 10, 2017.
For further information please contact:
ON BEHALF OF THE BOARD OF DIRECTORS
"Jack Bal"
Jack Bal,
President and Chief Executive Officer
FOR MORE INFORMATION, PLEASE CONTACT:
Jack Bal 604-306-5285
jackbalyvr@gmail.com
www.cheetahcanyon.com
Neither TSX Venture Exchange nor its Regulation Service 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 contains forward-looking statements relating to the future operations of the Company. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding future plans and objectives of the Company, are forward looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed from time to time in the filings made by the Company with securities regulations.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, we cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.