Completion of Financing and Bellechase-Timmins Update
Completion of Financing
Vancouver, BC – July 23, 2020 – The Company reports that it has completed a placement of 8,100,000 units at $0.05 per Unit for Gross proceeds of $405,000. Each Unit is comprised of one common share and one warrant exercisable at $0.075 for the first 12 months: $0.10 for the following 12 months and thereafter at $0.12 for the remaining 12 months. Proceeds will be utilized to supplement working capital.
An independent national dealer was paid $6,400 cash (2% of $320,000 raised) and issued (5% of those subscriptions) 320,000 warrants exercisable at $0.35 for 6 months and thereafter at $0.50 for 6 months.
All securities issued are subject to a hold period of 4 months and a day, ending on November 24, 2020.
Bellechase Timmins Update
The Company’s previously announced acquisition of the Bellechase Timmins Project 80 kms southeast of Quebec City has closed on the described terms. The Company has made the first $100,000 payment and work on the project is underway.
For more information please visit www.sedar.com or contact:
On behalf of Yorkton Ventures Inc.
Andrew Lee Smith
Chief Executive Officer
888 – 1027 Davie Street, Vancouver, BC V6E 4L2 Canada
Neither the TSX Venture Exchange nor it 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.
Certain statements contained in this press release constitute forward-looking information. These 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 Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Risk factors that could cause actual results or outcomes to differ materially from the results expressed or implied by forward-looking information include, among other things: conditions imposed by the TSX Venture Exchange; changes in tax laws, general economic and business conditions; and changes in the regulatory regulation. The Company cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.