April 27, 2021
Vancouver, British Columbia – April 27th, 2021 – Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE: NFLD) (OTCQB: NFLDF) (FSE: 634-FF) is pleased to announce a non-brokered private placement of $4,100,000 consisting of 8,200,000 units (the “Units”) at a price of $0.50 per Unit (the “Private Placement”).
The entire Private Placement is being fully subscribed and invested into by Mr. Eric Sprott. Upon completion of the financing, Eric Sprott will hold 9.81% on a non-diluted basis and 14.45% on a fully diluted basis.
Michael Collins, President, CEO & Director stated “I am pleased to welcome Mr. Sprott as a shareholder of Exploits Discovery Corp. Mr. Sprott’s participation is a validation of our land, team and exploration strategy. This funding will allow us to expand and aggressively chase both our current drill targets, and the development of new targets on the 200+ km of deep seated gold bearing structures on our Exploits Subzone claims.”
Each Unit consists of one common share (“Common Share”) and one common share purchase warrant (“Warrant”). Each whole Warrant entitles the holder to acquire one Common Share at an exercise price of $0.67 for a period of 24 months immediately following the closing date of the Private Placement.
A finder’s fee of 3% of the gross proceeds of the Private Placement, will be paid to Raymond James Ltd. who are an arms-length finder and is payable in cash.
The proceeds from the Units will be used for exploration on the Company’s properties, acquisition of additional properties, marketing and general working capital.
All securities to be issued pursuant to the Private Placement will be subject to a four month hold period from the closing date under applicable securities laws in Canada and among other things, receipt by Exploits of all necessary regulatory approvals, including the Canadian Stock Exchange.
The securities being offered under the Private Placement have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.