ENP Newswire -
Release date- 27052014 -
Proceeds of the Private Placement will be used to fund the Company's exploration and development program, including funding expenditures that qualify as Canadian development expenses which will be renounced in favour of the subscribers of the Flow-Through Shares effective on or before
All securities issued pursuant to the Private Placement will be subject to a four-month hold period from the closing date. The Private Placement is subject to approval of the
It is expected that a cash fee of 5% of the gross proceeds from the sale of the Common Shares in the Private Placement will be paid to
Credit Facility Increase
Contact is also pleased to announce that its senior lender has increased the amounts available under the Company's credit facilities to
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended or any U.S. state securities laws and may not be offered or sold in
For more information, please see the Company's website: www.contactexp.com
President and CEO
Tel: (403) 771-1091
Fax: (403) 695-3915
Forward-Looking Information and Statements
This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words 'expect', 'anticipate', 'continue', 'estimate', 'may', 'will', 'project', 'should', 'believe', 'plans', 'intends' and similar expressions are intended to identify forward-looking information or statements.
In particular, but without limiting the forgoing, this press release contains statements concerning the anticipated closing of the Private Placement, the anticipated fee payable to Beacon in respect of the Common Shares sold pursuant to the Private Placement and the anticipated use of proceeds of the Private Placement.
Although Contact believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Contact can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.
The closing of the Private Placement could be delayed if Contact is not able to obtain the necessary regulatory and stock exchange approvals on the timelines it has planned. The Private Placement will not be completed at all if these approvals are not obtained or some other condition to the closing is not satisfied. Accordingly, there is a risk that the Private Placement will not be completed within the anticipated time or at all. The intended use of the proceeds of the Private Placement by Contact might change if the board of directors of Contact determines that it would be in the best interests of Contact to deploy the proceeds for some other purpose.
The forward-looking statements contained in this press release are made as of the date hereof and Contact undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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