Spearmint Resources Inc. (“SRJ” or the “Company”) (SRJ—TSX.V) (SPMTF—OTCBB) (A2AHL5–FSE) announces that it intends to complete a private placement of up to 3,846,154 flow-through units (the “FT Units”) at a price of $0.065 per FT Unit for total gross proceeds of up to $250,000 and a private placement of up to 15,000,000 non flow-through units (the “NFT Units”) at a price of $0.05 per NFT Unit for total proceeds of $750,000. Each FT Unit will consist of one flow-through common share (a “FT Share”) and one non-flow through transferable share purchase warrant (a “FT Warrant”). Each FT Warrant will entitle the holder to purchase one non-flow through common share (a “FT Warrant Share”) at a price of $0.10 for two years from the closing date. Each NFT unit will consist of one common share (a “NFT Share”) and one transferable share purchase warrant (a “NFT Warrant”). Each NFT Warrant is exercisable to purchase an additional common share (a “NFT Warrant Share”) at a price of $0.08 for a period of three years from the closing date.
In connection with the private placement, the Company may pay finder’s fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange to applicable finders.
The proceeds will go towards forwarding our Nevada lithium property, Quebec vanadium properties, and BC gold properties, and general working capital.
James Nelson, President of Spearmint states, “With this placement we will be in a position to immediately start work in Nevada on our lithium property and in Quebec on the vanadium assets. Our neighbours have had success recently on the Nevada lithium clay and brine projects and we are very optimistic about our projects in Nevada. Our vanadium assets in Quebec are all in the vicinity of BlackRock Metal’s (private) Ilmenite Vanadium Project. We feel that lithium is at the forefront of the battery metals sector as the electric car market is exploding and that vanadium grid storage growth is in the early stages of a bull market. We look forward to a very active 2018.”
If you have any questions regarding this placement, please feel free to call or email with any inquiries. [email protected]
Spearmint’s current projects include a portfolio of lithium projects in the Clayton Valley of Nevada, comprising of two claim blocks totaling 800-acres bordering Pure Energy Minerals (PE.v) & Cypress Development Corp. (CYP.v). We also have three lithium projects in Quebec, including the 4,485-acre ‘Pressiac Lithium Prospect’, the 524-acre ‘Whabouchi Lakes Lithium Prospect’, and the 2,636-acre ‘Whabouchi Lakes West Lithium Prospect’ in the vicinity of Nemaska Lithium Inc. (NMX.t) & Critical Elements Corp. (CRE.v).
Spearmint’s ‘Chibougamau Vanadium Prospects’ comprise of five separate claim blocks totalling 9,735-acres bordering, or in the direct vicinity of, the vanadium deposit of BlackRock Metal’s (private) Ilmenite vanadium project, Vanadiumcorp Resource Inc. (VRB.v) and Vanadium One Energy Corp. (VONE.v).
Spearmint’s current projects also include three areas of focus on gold in British Columbia; the ‘Golden Triangle Gold Prospects’ comprising of four separate claim blocks totaling 4,095-acres bordering GT Gold Corp (GTT.v), the ‘Gold Mountain Prospects’ comprising of three separate claim blocks totaling 1,245-acres bordering Barkerville Gold Mines (BGM.v), and the 3,052 acre ‘Neba Prospect’ bordering Aben Resources Ltd (ABN.v). Spearmint’s 8,482 acre ‘EL North’ Nickel-Copper Prospect is a contiguous land package that includes the ‘EL North, EL North 2.
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Spearmint Resources Inc.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.