Skip to main content

Far Resources Ltd.: Private Placement Closed

Written by Customer Service on . Posted in Public Companies.

VANCOUVER, British Columbia, Aug. 28, 2020 (GLOBE NEWSWIRE) — Far Resources Ltd. (CSE:FAT) (FSE:FOR) (OTC:FRRSF) is pleased to announce that it has closed a non-brokered private placement of $419,712.50 for 7,461,556 units at a price of $0.05625 per unit (the “Units”) in accordance with the price protection filed with the Canadian Securities Exchange on July 14th, 2020.  Each Unit consists of one common share (the “Shares”) and two two-year share purchase warrants, warrants A and B (the “Warrants”).  Warrant A entitles the holder to purchase one additional common share, exercisable at a price of $0.075 per share for the first twenty four months from the date of issue and Warrant B entitles the holder to purchase one additional common share, exercisable at a price of $0.10 per share also for a period of twenty four months from the date of issuance.  All securities issued under the private placement are subject to a mandatory hold period of four months plus one day following the closing of the private placement.
There are no finders’ fees with respect to the private placement.The proceeds of this private placement will be used for general working capital and property development.Management is not aware of any material facts or material changes with respect to the Company that have not be generally disclosed.ON BEHALF OF THE BOARD OF DIRECTORS,John Gammack
President and CEOABOUT FAR
FAR Resources is a gold and silver exploration company focues in New Mexico.  The Company owns the Windston Project there, a historic mining property with potential for bonanza-grade silver and gold.  The property is steeped in history and historic samples, full data tables available at www.farresources.com/investors/.  FAR Resources also is a Canadian battery and technology metals exploration and development Company with lithium exploration projects in Canada and the USA.  In Canada, FAR is advancing its Zoro Lithium Project, located in the mining -friendly Snow Lake region of Manitoba and containing numerous known lithium deposits.  The Company also holds a 60% state in the Hidden Lake Lithium Project in Northwest Territories.More information is available at Far’s website:  www.farresources.com. About BattMat
BattMat Technologies Inc. is dedicated to capitalizing on the advancement of battery focused technologies and applications, including systems for distributed power, marine power and energy storage.  More information is available at BattMat’s website: www.battmat.com.About Electric Blue Power
Electric Blue Power, LLC operates the all-electric vessel Electric Blue Yacht and is development the VAB Controller® and other related designs of inventor Lee Wheelbarger.Information Contact
John Gammack,
President and CEO
Far Resources Ltd.
+1 (604) 374-5561The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.Forward Looking Statements
This news release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.