Supernova Announces Closing of Private Placement

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Return to homepage

(TheNewswire)



  

Vancouver, B.C. - TheNewswire - September 9, 2020 – Supernova Metals Corp. (“SUPERNOVA”) (TSXV:SUPR) (OTC:ABETF) (Frankfurt:A1S.F) is pleased to announce that. it has closed a non-brokered private placement (the “Private Placement”) of 10,000,000 common shares (the “Shares”) issued at a price of $0.10 per Share for total gross proceeds of $1,000,000.

The Company paid $31,290 and 312,900 finder’s warrants (the “Finder’s Warrants”) to Canaccord Genuity Corp., Haywood Securities Inc. and D.R.R. Capital Corporation.  The Finder’s Warrants are exercisable at $0.20 per Share until September 4, 2021.

The Company will use the proceeds of the Private Placement for exploration of its mineral properties and for general working capital.

All securities issued are subject to a four-month hold period from closing of the Private Placement.

Roger March, a director of the Company, subscribed for 75,000 Shares and Lindsay Hamelin, Corporate Secretary of the Company, subscribed for 50,000 Shares.  As a result, the Private Placement is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”)).  The Company relied upon section 5.5(a) and 5.7(a) as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Private Placement exceeds 25 percent of the Company’s market capitalization (calculated in accordance with MI 61-101).

About SUPERNOVA

 

SUPERNOVA is a growth-oriented exploration company focused on acquiring and advancing natural resources opportunities within North America. SUPERNOVA has a growing and diversified portfolio of assets, including revenue generating oil production, as well as Lithium, Vanadium, Silver and Gold assets.

  

ON BEHALF OF THE BOARD

 

Sean McGrath

CEO and Director

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Cautionary Statements regarding Forward-Looking Information:

Certain statements contained in this press release constitute forward-looking information as defined by law including without limitation Canadian securities laws and the “safe harbor” provisions of the US Private Securities Litigation Reform Act of 1995 (“forward-looking statements”).  These forward-looking statements relate to future events or future performance.  The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the SUPERNOVA's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.  All statements including, without limitation, statements relating to the potential mineralization and geological merits of SUPERNOVA’s properties and other future plans, objectives or expectations of SUPERNOVA are forward-looking statements that involve various risks and uncertainties.  There can be no assurance that such forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking statements.  Important factors that could cause actual results to differ materially from SUPERNOVA’s plans or expectations include risks relating to the actual results of current or future exploration activities, fluctuating commodity prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by SUPERNOVA with securities regulators.  SUPERNOVA expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

Copyright (c) 2020 TheNewswire - All rights reserved.