SCOTCH CREEK VENTURES INC. ANNOUNCES PRIVATE PLACEMENT
VANCOUVER, BC – November 16th, 2021 – Scotch Creek Ventures Inc. (the “Company”) (CSE: SCV) (FSE: 7S2) (OTC: SCVFF) (“Scotch Creek” or the “Company”) is pleased to announce a private placement financing of up to 12,000,000 units (each a “Unit”) at $0.50 per Unit for gross proceeds of up to $6,000,000 (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 $0.75 per share. The Company has the right to accelerate the expiry date of the Warrants (after the requisite four month hold period on the common shares has expired) if, at any time, the trading price of the Company’s common shares is equal to or greater than $1.50 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.
Scotch Creek, CEO, Mr. David Ryan, Commented, “We are very pleased with our exploration results to date and are excited to advance our lithium projects within Clayton Valley. The objective of this financing is to further our exploration objectives and help develop the company as we strive to become the next lithium producer in the valley.”
The proceeds of the Offering will be used for further mineral property exploration, completing due diligence on potential mineral property acquisitions, and for working capital purposes. The Company may pay commissions to registered brokers or investment dealers (or to finders where permitted by law) of up to 6% cash and 6% Broker warrants in connection with this offering. Broker warrants will be exercisable at $0.50 for a period of 12 months from the date of issue.
Scotch Creek would like to invite investors and stakeholders to connect with our investor relations team or visit our website to sign-up to receive regular updates and news alerts.
About Scotch Creek Ventures
Scotch Creek is a mineral exploration company, focused on the acquisition, exploration, and development of lithium projects located in tier-one North American mining jurisdictions. Scotch CreeK’s mission is to become a best-in-class lithium exploration company situated in one of the most promising lithium districts in the world, Clayton Valley, Nevada.
On behalf of the Board of Directors
Chief Executive Officer
Further information about the Company is available on our website at www.scotch-creek.com or under our profile on SEDAR at www.sedar.com, and on the CSE website at www.thecse.com.
Public Relations Contact
Scotch Creek Ventures Inc.
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Forward‐looking and cautionary statements This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This release may contain statements within the meaning of safe harbour provisions as defined under securities laws and regulations. This release may contain certain forward‐looking statements with respect to the financial condition, results of operations and business of the Company and certain of the plans and objectives of the Company with respect to the same. By their nature, forward‐looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward‐looking statements.