TORONTO, December 7, 2022 (GLOBE NEWSWIRE) — Green Shift Commodities Co., Ltd. (TSXV: GCOM), (“green shift” or “Company”) is pleased to announce its intention to complete an unbrokered private placement on a best effort basis for units of the Company (“Units”) at a price of $0.15 per Unit (the “Issue Price”) with minimal gross proceeds. We believe that we will provide the Company with $1,500,000, and the maximum total proceeds (the “Offer”) equal to the maximum amount that may be issued pursuant to the Listed Issuer Loan Forgiveness defined below. As the offering has been completed pursuant to the Listed Issuer Loan Forgiveness, securities issued in the offering are not subject to a hold period under applicable Canadian securities laws.
Each Unit consists of one common share of the Company’s equity (each a “Common Share”) and one common stock purchase warrant (each a “Warrant”). Each warrant gives the holder the right to purchase one share of common stock at an exercise price of $0.25 for a period of 24 months from the date of issuance.
GCOM CEO and Director Trumbull Fisher commented: Today’s announcement allows exploration of uranium and battery commodity assets to proceed at a time of great demand in both sectors. Importantly, we are very pleased that the public issuer funding exemption offers a wider range of investors the opportunity to participate early in our growth through freely traded securities. ”
A cash commission of 7% of the value of the units sold to such investor will be paid to certain eligible discoverers who direct investors to participate in the offering, and a number of discoverers equal to 7% A warrant (“Discoverer Warrant”) shall be issued. of units sold to such investors. Each finder warrant entitles the holder to purchase one share of common stock at an exercise price of $0.15 for a period of 24 months from the date of issuance.
The Company intends to use the net proceeds of the offering to further its battery commodities and uranium portfolio projects, working capital and general corporate purposes.
Closing of the offering is expected to occur on or around December 22, 2022 and is subject to certain conditions including, but not limited to, receipt of all necessary approvals, including TSX Venture Exchange approvals. increase.
In compliance with applicable regulatory requirements and pursuant to National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the unit is sold to purchasers residing in Canada and/or other eligible jurisdictions listed. will be Issuer Loan Forgiveness Under Part 5A of NI 45-106 (“Listed Issuer Loan Forgiveness”).
There are offering documents related to the offering that can be accessed on the company profile at www.sedar.com and the company website at www.greenshiftcommodities.com. Prospective investors should read this offering document before making any investment decision.
About Green Shift Commodities Ltd.
Green Shift Commodities Ltd. focuses on researching and developing the commodities needed to help achieve decarbonization and net zero goals.
The company is developing the Berlin deposit in Colombia. Apart from uranium, the Berlin deposit contains battery commodities such as nickel, phosphate and vanadium for clean nuclear energy. Phosphate is a key component of lithium-ion ferrophosphate (“LFP”) batteries used by a growing number of electric vehicle manufacturers. Nickel is a building block in various lithium-ion batteries, and vanadium is the element used in vanadium redox flow batteries. Neodymium, one of the rare earth elements found in the Berlin deposit, is a key component of powerful magnets used to increase the efficiency of electric motors and generators in wind turbines.
For more information, please contact:
Green Shift Commodities Ltd. CEO Trumbull Fisher said:
Phone: (416) 917-5847
This news release contains certain “forward-looking statements.” Forward-looking statements consist of statements that are not purely historical, including statements regarding future beliefs, plans, expectations or intentions, including, but not limited to, statements regarding: NO: OFFERING TERMS, EXPECTED REVENUE OF USE, OFFERING COMPLETION AND EXPECTED CLOSING DATE, TSXV APPROVAL. the results of permitting activities, the completion of future exploration operations, potential metallurgical recoveries, and the results of such testing operations; the future direction of our strategy; Other activities, events or developments are anticipated, anticipated or may occur in the future. These statements are based on the following assumptions: (i) Completion of Offering, including TSXV Approval; (ii) the ability to achieve positive results from testing activities; (iii) the actual results of our exploration, resource targets, metallurgical testing, economic studies and development activities continue to be favorable and progress as planned; (iv) Necessary regulatory and government approvals are received in a timely manner on terms acceptable to Green. SHIFT (i) favorable economic, political and industrial market conditions; (vi) financial markets and markets for uranium, battery commodities and rare earth elements continue to strengthen; Such statements are subject to risks and uncertainties that could cause actual results, performance or developments to differ materially from those contained in such statements. and financial market conditions; (3) changes in demand and prices for minerals; (4) our ability to procure commercially viable reactivation transactions and/or establish suitable joint venture partnerships; 5) reliance on litigation, regulatory and legislative developments; (6) inherent uncertainties and speculations related to exploration results, resource estimates, potential resource growth, future metallurgical test results and changes in project parameters; nature. (7) Development of Competitiveness; (8) Availability of Future Funding; (9) COVID-19 to Capital Markets, Commodity Pricing, Labor Regulations, Supply Chain Disruptions, Domestic and International Travel Restrictions (9) Exploration Risk, and other risks in Management’s Discussion and Analysis dated May 2, 2022 for the fiscal year ended December 31, 2021, available on SEDAR at www.sedar.com. Factors beyond the control of Green Shift, including those listed in the Factors section. Readers are cautioned that the assumptions used in the preparation of such information, although believed to be reasonable at the time of preparation, may prove to be inaccurate and, therefore, forward-looking statements may not be correct. Please do not place undue reliance on Green Shift Commodities Ltd. does not undertake any obligation to update such information, except as required by law.
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this press release.