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  • Professor Andrea M. Armani, University of Southern California
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  • Professor Stefan Witte, Delft University of Technology

Core Assets Announces Non-Brokered Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / August 13, 2021 / Core Assets Corp., ("Core Assets" or the "Company") (CSE:CC)(Frankfurt:5RJ; WKN:A2QCCU)(ISIN:CA 21871U 10 5) is pleased to announce it has arranged a non-brokered private placement (the "Offering") of 11,000,000 units (each, a "Unit") at a price of $0.055 per Unit for gross proceeds of $605,000. Each Unit will comprise of one common share (each, a "Share") in the capital of the Company and one half (1/2) of one transferable share purchase warrant (each, a "Warrant"). Each whole Warrant will entitle the holder to purchase one additional Share (each, a "Warrant Share") in the capital of the Company for a period of two years from the closing date at an exercise price of $0.25 per Warrant Share.

The Company also announces a non-brokered private placement (the "Flow-through Offering") consisting of up to 4,000,000 Shares, issued on a "flow-through basis" pursuant to the Income Tax Act (Canada), at $0.08 per Share for gross proceeds of up to $320,000.

All securities issued in connection with the Offering and the Flow-through Offering will be subject to a four month hold mandated by securities rules, and in addition, will be subject to a twelve month hold from the closing date as a term of the offering. Therefore, the securities issued in the Offering and the Flow Through Offering will not be tradeable until one year after the closing date.

Proceeds from the Offering and the Flow-through Offering will be used for exploration programs at the Company's Atlin Mining District Blue property project and for working capital. Insiders of the Company may participate in the Offering and the Flow-through Offering. Finder's fees may be payable in connection with the Offering and the Flow-through Offering in accordance with the policies of the Canadian Securities Exchange.

None of the securities sold in connection with the Offering and the Flow-through Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Core Assets Corp.

Core Assets Corp. is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in B.C., Canada. The company currently holds the Blue Property, which covers a land area of 14,814.86 Ha (148.15 km²). The project lies within the Atlin Mining District, which is a well-known gold camp. The Property hosts a major structural feature known as the Llewellyn Fault Zone ("LFZ"). This structure is approximately 140km in length and runs from the Yukon border down through the Property to the Alaskan Panhandle Juneau Ice Sheet in the United States. Core Assets believes that the south Atlin Lake area and the LFZ has been neglected since the last major exploration campaigns in the 1970's. The LFZ plays an important role in mineralization of near surface mineral occurrences across the Property. The past 50 years have seen substantial advancements in the understanding of porphyry, skarn, and carbonate replacement type deposits, both globally and in BC's Golden Triangle. The Company has leveraged this information at the Blue Property to develop an exploration model and believes this could facilitate a mineral discovery. Core Assets is excited to become one of Atlin Mining District's premier explorers where its team believes there are substantial opportunities for new discoveries and development.

On Behalf of the Board of Directors
CORE ASSETS CORP.

"Nick Rodway"
Nick Rodway
President & CEO
Tel: 604.681.1568

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward looking statements in this news release include that Core Assets will conduct a private placement and expend funds on Blue project exploration. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company's operations, markets, products and prices; our specific plans and timing drilling, field work and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for its recently completed fiscal period, which is available under Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward looking statement risk factors.

SOURCE: Core Assets Corp.



View source version on accesswire.com:
https://www.accesswire.com/659581/Core-Assets-Announces-Non-Brokered-Private-Placement

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