SCOTCH CREEK VENTURES ANNOUNCES PRIVATE PLACEMENT
Vancouver, British Columbia, March 12, 2021 – Scotch Creek Ventures Inc. (the “Company”) (CSE:SCV) is pleased to announce a private placement financing of up to 5,714,286 units (each a “Unit”) at $0.35 per Unit for gross proceeds of up to $2,000,000 (the “Offering”).
Each Unit consists of one common share of the Company and one share purchase warrant (each a “Warrant”), with each Warrant entitling the holder to purchase one additional common share for a period of two (2) years from the date of the issue at an exercise price of $0.50 per share. The Company has the right to accelerate the expiry date of the Warrants if, at any time, the trading price of the Company’s common shares is equal to or greater than $1.00 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 15 business days after the Company issues a news release announcing that it has elected to exercise this acceleration right.
The Company may pay commissions to registered brokers or investment dealers (or to finders where permitted by law) of up to 7% cash and 7% warrants in connection with this offering. Finder’s Warrants will be exercisable at $0.50 for a period of 12 months from the date of issue.
The proceeds of the Offering will be used for mineral property exploration, completing due diligence on potential mineral property acquisitions and for working capital purposes.
The company will not be proceeding with the private placement of up to 5,000,000 Units at
$0.35 per Unit announced on February 19, 2021.
On behalf of the Board of Directors
David K. Ryan
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.