TORONTO, ONTARIO–(Marketwired – Dec. 21, 2015) – Minsud Resources Corp. (TSX VENTURE:MSR) (“Minsud” or the “Company”) announces that is has issued 1,789,545 units of the Company (the “Units“) at a price of $0.145 per Unit in exchange for certain drilling services performed on the Company’s Chita Valley property. The payment in Units constitutes approximately 30% of the total fee owed to the service provider which amounts to $ 259,772.
Each Unit comprises of one common share in the capital of the Company (“Common Share“) and one common share purchase warrant (“Warrant“). Each Warrant is exercisable into one Common Share at $0.35 for a term of two years from the date of issue, provided that in the event that the 20 day closing price of the Common Shares on the TSX Venture Exchange or such other stock exchange that the Common Shares may be then listed on is greater than $0.35, the Company shall be entitled to accelerate the exercise period of the Warrants to a period of not less than 10 days after written notice is deemed to have been received by the holders of the Warrants from the Company regarding same.
The Common Shares and Warrants issued under the Units will be subject to a four month hold period expiring on April 21, 2016.
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 has in Santa Cruz Province, Argentina.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain information that may constitute forward-looking information under applicable Canadian securities laws. Forward-looking information includes, but is not limited to, statements about strategic plans, spending commitments, future operations, results of exploration, anticipated financial results, future work programs, capital expenditures and objectives. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information including, but not limited to: fluctuations in the currency markets (such as the Canadian dollar, Argentina peso, and the U.S. dollar); changes in national and local government, legislation, taxation, controls, regulations and political or economic developments in Canada and Argentina or other countries in which the Company may carry on business in the future; operating or technical difficulties in connection with exploration and development activities; risks and hazards associated with the business of mineral exploration and development (including environmental hazards or industrial accidents); risks relating to the credit worthiness or financial condition of suppliers and other parties with whom the Company does business; presence of laws and regulations that may impose restrictions on mining, including those currently enacted in Argentina; employee relations; relationships with and claims by local communities; availability and increasing costs associated with operational inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses, permits and approvals from government authorities; business opportunities that may be presented to, or pursued by, the Company; challenges to, or difficulty in maintaining, the Company’s title to properties; risks relating to the Company’s ability to raise funds; and the factors identified under “Risk Factors” in the Company’s Filing Statement dated April 27, 2011. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking-information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by 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.
President and Chief Executive Officer
Minsud Resources Corp.