Mineral Road Announces Private Placement of Up To $636,000 of Flow Through Shares
Summary
Vancouver, British Columbia--(Newsfile Corp. - December 12, 2024) - Mineral Road Discovery Inc. (CSE: ROAD) (the "Company" or "Mineral Road") is pleased to announce a non-brokered private placement (the "Offering") of up to 5,300,000 flow-through common shares ("FT Shares") at a price of $0.12 per FT Share for gross proceeds of up to $636,000.The gross proceeds received by the Company from the Offering will be used to incur eligible "Canadian exploration expenses" (the "Qualifying Expenditures") on the Companys properties in Quebec that qualify as "critical flow-through mining expenditures" within the meaning of the Income Tax Act (Canada) and "flow through mining expenditures" as defined in the Taxation Act (Quebec). The Company will renounce the Qualifying Expenditures so incurred to the purchasers of the FT Shares with an effective date of no later than December 31, 2024.Finders fees may be payable to eligible finders upon completion of the Offering.This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the tax treatment and timing of renunciation of the Qualifying Expenditures, the receipt of any regulatory approvals and anticipated costs. Certain important factors that could cause actual results, performances or achievements to differ materially from those in the forward-looking statements include, amongst others, currency fluctuations, the global economic climate, dilution, share price volatility and competition. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.To view the source version of this press release, please visit https://www.newsfilecorp.com/release/233567