Navy Resources Corp. Increases Previously Announced Private Placement to $2,200,000
Suite 1740 -1177 West Hastings Street Vancouver, BC V6E 2K3
FOR IMMEDIATE RELEASE September 9, 2020
Navy Resources Corp. Increases Previously Announced Private Placement to $2,200,000
Navy Resources Corp. (TSX-V: NVY) (the “Company”) is pleased to announce that it is increasing the size of the previously announced non-brokered private placement offering from 10,000,000 common shares at a price of $0.20 to up to 11,000,000 shares at a price of $0.20 for gross proceeds of up to $2,200,000 (the “Offering”).
The proceeds of the Offering are for the Company's general working capital, to fund the investigation of additional potential acquisitions and to fund exploration activities on its current portfolio.
All securities will be subject to a four-month hold period from the closing date. The Offering is subject to TSX Venture Exchange approval.
On behalf of the Board of Directors,
“Martin Bajic”
CFO and Director
Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, and similar expressions, or are those, which, by their nature, refer to future events. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the possibility of: (i) the Company’s inability to close the private placement; or (ii) the TSX Venture Exchange not approving the private placement. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. The statements in this news release are made as of the date of this release.
Neither 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.