Toronto, Ontario–(Newsfile Corp. – January 10, 2018) – Inspiration Mining Corporation (CSE: ISM) (“Inspiration” or the “Corporation”) is pleased to announce that it intends to raise gross proceeds of up to $700,000 through a non-brokered private placement of up to 7 million units (the “Units”) of the Corporation at a price of $0.10 per Unit. Each Unit will consist of one (1) common share and one (1) common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one (1) common share for a period of two (2) years from date of issuance at an exercise price of $0.15 per Warrant.
The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Corporation intends to use the net proceeds for general working capital.
For further information, please contact Randy Miller, Chief Executive Officer of the Corporation, at tel: 416-842-9000, www.inspirationmining.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements based on assumptions, uncertainties and management’s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation’s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.