|May 23, 2017|
Evrim Closes $4.3 Million Private Placement
|Vancouver B.C. - May 23, 2017: Evrim Resources Corp. (TSX.V:EVM) ("Evrim" or the "Company") announces that, further to its announcements on April 27 and May 1, 2017, the Company has closed the private placement. The Company has issued 14,349,760 units ("Units") at a price of $0.30 per Unit for gross proceeds of $4,304,928. Each Unit consisted of one common share and one-half non-transferable share purchase warrant. Each whole warrant (a "Warrant") is exercisable into one common share at a price of $0.50 until May 19, 2020.|
Finder's fees of $179,400 were paid and 598,000 Finder's warrants ("Finder Warrants") were issued to Sprott Global Resource Investments, Ltd., Canaccord Genuity Corp., Haywood Securities Inc., and PI Financial Corp. in conjunction with the private placement. Each Finder Warrant is exercisable into one common share at a price of $0.30 until November 19, 2018.
Proceeds from the private placement will be used for exploration and working capital purposes. The common shares issued under the private placement, including any common shares issued on exercise of the Warrants and Finder Warrants, will be subject to a four month restricted resale period that expires, with respect to resales in Canada, on September 20, 2017, and applicable securities legislation hold periods outside of Canada.
Altius Minerals Corp. (TSX:ALS) ("Altius"), Evrim's largest shareholder, acquired 4,000,000 Units of the private placement for an aggregate purchase price of $1,200,000. The acquisition has resulted in Altius beneficially owning an aggregate of 11,452,875 shares, or 17.45% of Evrim's outstanding shares, and 2,000,000 Warrants. In the event Altius exercises its Warrants, Altius would own 13,452,875 shares of Evrim, representing 19.89% of the outstanding Evrim shares determined on a partially diluted basis assuming the exercise of Altius' Warrants but no other convertible securities of Evrim. Altius acquired the Units for investment purposes only and not with a view to materially affecting control of Evrim. Altius' address is Suite 202, 66 Kenmount Road, St. John's NL, A1B 3V7.
The foregoing is subject to regulatory acceptance of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The 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 state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.
About Evrim Resources
Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration discoveries supported by a sustainable business model. The Company has a diverse range of quality projects and a database in Mexico and portions of southwestern United States. The existing projects, and generation of quality exploration targets and ideas, are advanced through option and joint venture agreements with industry partners to create shareholder value. Evrim's business plan also includes royalty creation utilizing the Company's exploration expertise and existing projects.
On Behalf of the Board
EVRIM RESOURCES CORP.
President & CEO
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Charles Funk, VP New Opportunities and Exploration at 604-248-8648, or visit www.evrimresources.com.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company") expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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