December 12, 2018
Vulcan Minerals Inc. – Arranges Financing
St. John’s, Newfoundland and Labrador – Vulcan Minerals Inc. (“the Company” – “Vulcan” TSX-V: VUL), announces that it proposes to carry out a non-brokered private placement (the “Offering”) for proceeds of up to $150,000.00. Under the terms of the Offering, the Company intends to place 1,960,000 units (the “Units”) and 866,667 flow- through units (the “FT units”). The Units will be offered at a price of $0.05 and will consist of one common share and one-half of a common share purchase warrant with each full warrant exercisable at a price of $0.12 per common share for a period of two years following the close of the offering. The FT units will be offered at $0.06 and will consist of one common share and one half of a common share purchase warrant with each full warrant exercisable at a price of $0.12 per common share for a period of two years following closing.
The proceeds of the offering will be used for working capital and to fund exploration activities in Newfoundland. The shares issued will have a four month hold period as per applicable securities law. The financing is subject to TSX Venture Exchange approval. There will be no finder’s fees or commissions payable. It is anticipated that the FT units portion of the financing will close as a first tranche prior to yearend. The other Units will close in a second tranche in January.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors beyond the Company’s control may affect the actual results achieved. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except by law, the Company undertakes no obligation to publicly update or revise forward-looking information.
For information please contact:
Patrick J. Laracy, President
(709) 754-3186