KORE Announces $3 Million Strategic Investment by Eric Sprott

VANCOUVER, Aug. 16, 2019 /PRNewswire/ – KORE Mining Ltd. (“KORE” or the “Company“) is pleased to announce a non-brokered private placement of $3,000,000 consisting of 10,000,000 shares at a price of $0.30 per share (the “Private Placement”), subject to the approval of the TSX Venture Exchange.

Scott Trebilcock, President and CEO stated “On behalf of the Board and the Management of KORE, I am pleased to welcome Mr. Eric Sprott as a major investor.  The investment by Mr. Sprott is a strong endorsement for KORE’s portfolio of advanced gold assets.”

Net proceeds of the Private Placement are expected to fund work on KORE’s 100% owned gold portfolio: Long Valley (California), Gold Creek (BC) and FG Gold (BC), as well as for general working capital purposes.  Recall that in May 2019, KORE raised $4 million from Macquarie Bank Ltd. to advance permitting of the Imperial oxide gold project in California.

The entire Private Placement is being fully subscribed and invested into by Mr. Eric Sprott. Upon completion of the financing Mr. Sprott will hold 11.3% on a non-diluted basis.

All securities to be issued pursuant to the Private Placement will be subject to a four month hold period from the closing date under applicable securities laws in Canada and among other things, receipt by KORE of all necessary regulatory approvals, including the TSX Venture Exchange.

About KORE

KORE is 100% owner of a portfolio of advanced gold exploration and development assets in California and British Columbia. Further information on KORE and its assets can be found on the Company’s website at www.koremining.com and at www.sedar.com, or by contacting us as info@koremining.com or by telephone at (888) 407-5450.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any KORE common shares in the United States. The KORE common shares to be issued in connection with the Transaction have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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.

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Such factors include, but are not limited to: uncertainties related completion of financing, exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labor relations matters. This list is not exhaustive of the factors that may affect the Company’s forward-looking information. Important factors that could cause actual results to differ materially from the Company’s expectations also include risks detailed from time to time in the filings made by the Company with securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

SOURCE Kore Mining

Related Links

http://www.koremining.com/

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