/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, May 2, 2018 /CNW/ - Mirasol Resources Ltd.
(TSX-V: MRZ, OTCPK: MRZLF) (the
"Company" or "Mirasol") announced a non-brokered
private placement of up 2,500,000 Units of the Company ("Units") at
a price of $2.00 per Unit, to raise
aggregate gross proceeds of up to $5,000,000 (the "Offering"). Each Unit shall
consist of one common share and one-half of one non-transferable
common share purchase warrant (each whole warrant, a "Warrant").
Each warrant is exercisable into one additional common share of the
Company for a period of 24 months from closing at an exercise price
of $3.00 per share. A substantial
portion of the proceeds from the sale of the Units will be used to
further explore and test certain prospective gold and silver
projects in Santa Cruz Province
Argentina, and the balance will be used for general working
capital.
The closing of the Offering is anticipated to occur on or around
June 15, 2018, and is subject to
certain conditions including but not limited to the acceptance of
the TSX Venture Exchange. The Company may, in appropriate
circumstances, pay up to a 5% finder's fee to registered securities
dealers.
Mirasol intends to expand its exploration strategy to accelerate
the drill testing of its large gold, silver and copper project
portfolio (click on this link for further information on the
exploration strategy). The strategy will combine Mirasol
funded drill testing of select high-grade gold and silver targets
in Santa Cruz, with joint venture
partner-funded drill testing of Mirasol's larger-scale, higher
risk/higher reward targets across our project portfolio. The
objective of the strategy is to retain the Project Generator Model
as a central pillar of the Company's business philosophy, while
delivering concurrent aggressive exploration programs on the
balance of our Santa Cruz project
portfolio. The self-funded drill testing of our Santa Cruz properties not currently under
joint venture will give Mirasol greater deal making leverage and
better position it to monetize its assets in the event of positive
exploration results. The Company believes that its new strategy
will accelerate the path to discovery and shareholder wealth
creation.
The Units will be offered by way of a private placement pursuant
to exemptions from the prospectus requirements to residents of the
Provinces of British Columbia,
Alberta, Ontario and such other Canadian jurisdictions
as may be agreed to by the Company, and in the United States and Europe. All
securities issued under the Offering will be subject to a statutory
hold period in Canada expiring
four months and one day from the Closing Date.
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. 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 unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Stephen Nano, President and CEO
of Mirasol, has approved the technical content of this news release
and is a Qualified Person under NI 43 -101.
About Mirasol Resources Ltd:
Mirasol is a premier project generation company that is focused
on the discovery and development of profitable precious metal and
copper deposits. Mirasol employs an integrated generative and
on-ground exploration approach, combining leading-edge technologies
and experienced exploration geoscientists to maximize the potential
for discovery. Mirasol is in a strong financial position and has a
significant portfolio of exploration projects located within the
Tertiary Age Mineral belts of Chile and the Jurassic age Au+Ag district of
Santa Cruz Province Argentina.
Forward Looking Statements: The information in this news release
contains forward looking statements that are subject to a number of
known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those anticipated in
our forward looking statements. Factors that could cause such
differences include: changes in world commodity markets, equity
markets, costs and supply of materials relevant to the mining
industry, change in government and changes to regulations affecting
the mining industry. Forward-looking statements in this release
include statements regarding future exploration programs, operation
plans, geological interpretations, mineral tenure issues, mineral
recovery processes and the process to complete the private
placement. Although we believe the expectations reflected in our
forward looking statements are reasonable, results may vary, and we
cannot guarantee future results, levels of activity, performance or
achievements. Mirasol disclaims any obligations to update or revise
any forward looking statements whether as a result of new
information, future events or otherwise, except as may be required
by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
SOURCE Mirasol Resources Ltd.