Cortus Closes Financing
Cortus Metals Inc. 10545 - 45 Avenue NW 250 Southridge, Suite 300 Edmonton, AB CANADA T6H 4M9
CORTUS CLOSES FINANCING
Edmonton, AB – February 28, 2023 – Cortus Metals Inc. (the “Company” or “Cortus”) (TSXV: CRTS; OTCPK: CRTTF) – The Company is pleased to report that further to its press releases dated January 23, 2023 and February 27, 2023, Cortus has closed its non-brokered private placement financing (the “Financing”). The Company issued a total of 47,500,000 common shares (the “Shares”) at a price of $0.01 per Share to raise gross proceeds of up to $475,000.
In connection with the sale of the Shares, Cortus paid fees of $28,500 cash, and issued 2,850,000 nontransferable agent warrants (“Agent Warrants”) to an eligible finder. Each Agent Warrant will entitle the holder to purchase one common share of the Company at an exercise price of $0.05 until February 28, 2025.
All securities issued are subject to a hold period until June 29, 2023.
The net proceeds raised from the Shares will be utilized to pay outstanding accounts and for general working capital.
About Cortus Metals Inc.
Cortus Metals Inc. is an innovative Canadian mineral exploration company with a portfolio of highly prospective early-stage projects and prospects in Nevada, USA, which are available for acquisition via sale, option and/or joint venture mechanisms. Cortus uses systematic methods and proprietary data to target epithermal and Carlin-type gold mineralization beneath shallow cover. Our mandate is to collaborate with third parties to complete drill programs, with Cortus retaining an interest in the outcomes. Our Nevada projects offer investors opportunities to benefit from the potential for discoveries of gold-silver deposits in a top-ranked mining jurisdiction. Cortus continuously seeks new opportunities to add value through the generation, exploration and development of mining projects worldwide.
On behalf of the Board of Directors
“Sean Mager”
Sean Mager, Chief Executive Officer Email: [email protected] Telephone: +1.780.701.3215
Cortus Metals Inc. is part of the Metals Group of Companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to identify and capitalize on investment opportunities and deliver shareholder returns.
www.metalsgroup.com
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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The offered securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable state securities laws and may not be offered or sold in the United States or to “U.S. persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent such registration or an applicable exemption from such registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the offered securities in any jurisdiction.
This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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