March 23, 2022
Vancouver, March 23, 2022 – Core Assets Corp., (“Core Assets” or the “Company”) (CSE:CC) (FSE:5RJ) (OTC.QB:CCOOF) is pleased to announce the addition of Mr. Joshua Vann as Vice President of Business Development and Strategy and provides an update on the amount of cash received from warrant exercises as of March 17, 2022.
Core Assets is pleased to announce it has appointed Mr. Joshua Vann as Vice President of Business Development and Strategy. Joshua previously worked in Equity Research at PI Financial Corp. on the Special Situations Team. He has extensive experience working in corporate development for publicly and privately listed companies in the natural resource sector. Joshua also brings experience working in Investment Banking across industries such as healthcare, technology, and mining/exploration. Joshua holds a Bachelor of Commerce Degree from McGill University with a Major in Finance.
In connection with the Company’s private placement offering of units which closed on March 17, 2021, 12,177,767 share purchase warrants were issued, with each warrant entitling the holder to purchase one common share in the capital of the Company for a period of 24 months from the closing date at an exercise price of $0.15 per warrant share in first year and $0.25 per warrant share in second year. As of 5:00PM PST on Thursday, March 17, 2022, 10,286,100 (84%) of the warrants from the above offering were exercised for cash for proceeds of $1,566,760.50 including the broker warrants. As a result, Core Assets now has approximately $3.92 million in cash on its balance sheet making it fully funded for the 2022 exploration program.
After the completion of the warrant exercise, the Company has approximately 73.86 million common shares outstanding as of March 17, 2022.