New Tech Minerals Corp. Closes Non-Brokered Private Placement
880-580 Hornby Street Vancouver, BC, Canada, V6C 3B6 Tel: 604-803-5838 www.newtechminerals.ca
NTM: CSE
NEWS RELEASE
New Tech Minerals Closes Non-Brokered Private Placement
Vancouver, B.C., December 23, 2019: New Tech Minerals Corp (NTM-CSE) (“New Tech” or the “Company”) is pleased to announce that it has completed its non-brokered private placement announced on November 12, 2019. The private placement was oversubscribed, with gross proceeds of $155,000. The Company has issued a total of 6,200,000 units (each a “Unit”) at a price of $0.025 per Unit. Each Unit will consist of one common share and one common share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CDN$0.05 per share for a period of 36 months from the date of closing.
The Company paid a finder’s fee of $4,400 to Haywood Securities Inc.
All securities are subject to a hold period of four (4) months and one day, expiring on April 24, 2020. The net proceeds from the sale of Units will be added to working capital in furtherance of the Company’s business.
About New Tech Minerals Corp.
New Tech is engaged in the exploration and development of promising potash/brine, cobalt and vanadium projects in America, including the Paradox Basin Potash and the Brine project in Utah, the Buena Vista and Tule cobalt projects in Nevada and the Fredericktown cobalt project in Missouri.
On behalf of the Board of Directors
“Jonathan George”
Jonathan George, President & CEO
Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, are "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and Canadian securities laws. Forward Looking Statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the Forward Looking Statements.
Key assumptions upon which the Company’s forward-looking statements and information are based include: the price of potash will rise and not fall significantly; the Company’s ability to secure new financing to continue its exploration and development activities; there being no significant changes in the ability of the Company to comply with environmental, safety and other regulatory requirements; the Company’s ability to obtain regulatory approvals in a timely manner; and the Company’s ability to achieve its growth strategy. These assumptions should be considered carefully by readers. Readers are further cautioned that the foregoing list of assumptions is not exhaustive. Although the Company believes that the assumptions on which the forward-looking statements or information are made are reasonable, based on the information available to the Company on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct.