October 20, 2017
Minsud Announces Non-Brokered Private Placement
TORONTO, ONTARIO – Minsud Resources Corp. (TSX-V:MSR) (“Minsud” or the “Company”) announces that it intends to complete, subject to the approval of the TSX Venture Exchange (the “TSXV”), a non-brokered private placement of units of the Company (“Units”) for gross proceeds of up to $ 900,000 (the “Private Placement”) at $0.10 per Unit, with each Unit consisting of one common share of the Company (each, a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant is exercisable into one Share at $0.15 for a term of two years from the date of issue.
The net proceeds will be used to continue exploring the Cu-Mo-Ag-Au deposit at the Chita porphyry including 1,500 metres DDH drilling to further define the mineral resources. Additionally a modest part of this financing will be used to carry out exploration on the La Rosita property.
No commission or finder’s fee will be paid in connection with the Private Placement. The Shares will be subject to a hold period of four months and a day from their date of issuance. The Company expects to complete the Private Placement within 30 days.
A portion of the gross proceeds is expected to be subscribed for by insiders of the Company. Any such subscription will be considered to be a related party transaction within the meaning of TSX-V Policy 5.9 which incorporates Multilateral Instrument 61-101 (“MI 61-101”). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.
About Minsud Resources Corp.:
Minsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early stage prospects, including 18,000 ha in Santa Cruz Province, Argentina. The company has already resumed field work at the 100% owned La Rosita Project, a Low-sulphidation Ag/Au prospect in the Deseado Massif.
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President and Chief Executive Officer