VANCOUVER, British Columbia, Sept. 18, 2017 (GLOBE NEWSWIRE) -- Senator Minerals Inc. (TSX-V:SNR) (OTC:SNRAF) (Frankfurt:T1KA) (“Senator” or the “Company”) is pleased to announce that following completion of its acquisition of the Carter Lake Uranium Project, the Company has received expressions of interest in additional financing. To address this interest the board has elected to undertake a non-brokered private placement of up to 3,125,000 common shares, at a price of $1.60 per share, for gross proceeds of up to $5,000,000.
Tim Fernback, President of the Company, commented: “We are very pleased with the interest the market has shown in the development of the Company. The initial interest we have received in providing additional financing at these levels is a testament to the confidence we are seeing from the investment community. This financing will allow us to fund the 2017 work program on both Carter Lake and Patterson Northeast (PNE) and to look at other potential strategic acquisitions in the region.”
In connection with the placement, the Company may pay fees to eligible finders who introduce subscribers to the Company. All common shares issued on completion of the placement will be subject to a four-month-and-one-day statutory hold period. Completion of the placement remains subject to the approval of the TSX Venture Exchange.
For further information contact Tim Fernback at 604-340-3774.
Tim Fernback
President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this release that are forward-looking information are subject to various risks and uncertainties concerning the specific factors disclosed here. Information provided in this document is necessarily summarized and may not contain all available material information. All such forward-looking information and statements are based on certain assumptions and analyses made by management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading “Risks Factors” in the Company’s most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information or statements.