CSE: DMC.CN
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Vancouver, Canada – December 31st, 2024 – Dunbar Metals Corp. (“Dunbar” or the “Company”) (CSE: DMC) announces that it will conduct a financing for gross proceeds of up to $1,000,000 at a price of $0.12 per unit, with each unit consisting of one common share and one full warrant exercisable at $0.16 per share for a period of 36 months. The financing will be undertaken as a non-brokered private placement on a best efforts basis.
The proceeds from this financing are intended to be used for advancing work on Dunbars' Gorilla Lake project, potential acquisitions, and general working capital purposes. However, the Company cautions that it currently does not have any firm commitments or orders for the financing and cannot guarantee that it will be successful in raising all or any portion of the intended funds.
"This financing represents a critical step for Dunbar Metals as we seek to progress our exploration and development activities at Gorilla Lake and bolster our strategic initiatives," commented Mark Ferguson, CEO of Dunbar. "While we are optimistic about our prospects, we must acknowledge the inherent uncertainties in raising capital under current market conditions."
Dunbar remains focused on enhancing shareholder value through disciplined capital allocation and prudent resource management. The Company continues to evaluate opportunities that align with its growth objectives, leveraging its expertise in the resource sector to navigate evolving market dynamics.
The financing is made to accredited investors within the meaning of National Instrument 45-106, and completion of the financing is subject to acceptance of the Canadian Securities Exchange. All securities issued in connection with the financing will be subject to a statutory hold period expiring four months and one day from the closing. Finders' fees may be payable in connection with the sale of the units in accordance with applicable securities laws.
For further information about Dunbar Metals' exploration activities and sustainability initiatives, please visit www.dunbarmetals.com.
About Dunbar Metals Corp.
Dunbar Metals Corp. is a resource exploration company focused on unlocking the potential of the Gorilla Lake Uranium Project, located in the heart of Saskatchewan’s prolific Athabasca Basin. Our mission is to explore and develop high-potential mineral properties, leveraging the latest in exploration technology to discover and advance world-class projects. At Dunbar Metals, we are committed to responsible exploration, sustainable development, and maximizing shareholders value.
For further information, contact Mark Ferguson, Chief Executive Officer, at info@dunbarmetals.com or 403.852.4869, or visit the Company’s website at www.dunbarmetals.com.
On behalf of the Board,
Dunbar Metals Corp.
Mark Ferguson, Chief Executive Officer
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to further exploration of the Gorilla Lake Uranium Project and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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