SCOTCH CREEK VENTURES INC. CLOSES FINAL TRANCHE OF OVERSUBSCRIBED $6,530,050 NON-BROKERED PRIVATE PLACEMENT
VANCOUVER, BC – December 21st, 2021 – Scotch Creek Ventures Inc. (the “Company”) (CSE: SCV) (FSE: 7S2) (OTC: SCVFF) (“Scotch Creek” or the “Company”) is pleased to announce that it has completed the final tranche of financing (the “Financing”), pursuant to which the Company has issued an additional 440,000 units (each, a “Unit”), for proceeds of $220,000. Together with the first tranche, Scotch Creek’s issued a total of 13,030,100 units for gross proceeds of C$6,530,050.
Each Unit consists of one common share (each, a “Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each warrant entitles the holder to purchase one additional common share for a period of two (2) years from the date of issuance at an exercise price of $0.75 per share. The Company may 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 $1.50 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.
The securities issued under the Financing are subject to a statutory hold period of four months and one day in accordance with applicable securities laws. No additional finder’s fees or warrants were paid out on this final tranche of financing.
Following the completion of the financing, the Company is now well-positioned to proceed with its corporate and exploration objectives. Scotch Creek’s project portfolio includes two high- priority lithium projects totaling 9,140 acres in the prolific Clayton Valley, Nevada, which borders multiple proven lithium resources.
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
“David K. Ryan”
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.
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
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.