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Search Minerals Inc. Announces $ 5,000,000 Non-Mediated Private Placement, Canadian Business Journal

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Vancouver, British Columbia, December 3, 2021 (GLOBE NEWSWIRE) — Search Minerals Inc. (“search” or “society”) (TSXV: SMY | OTCQB: SHCMF) We are pleased to announce that we are conducting a non-intermediary private placement of our up to 20,000,000 flow-through common shares (“FT stock“) For a total income of up to $ 5,000,000, at a price of $ 0.25 per FT share (“)Recruitment“).

We will use the proceeds from the offering to cover eligible Canadian exploration and flow-through mining costs. Income tax law About our projects, including our Deep Fox project in the Critical Rare Earth Element district of Labrador, Southeast (Canada) (“Area”) And other exploration work in the district.

The offering is expected to end by 31 December 2021 and is subject to a number of conditions, including receipt of all required corporate and regulatory approvals, including TSX Venture Exchange approval (“).TSXV“).

In connection with the offering, we may pay finder fees to certain inter-independent parties, as permitted by TSXV’s policy. All securities issued in connection with the offering are subject to a four-month holding period under the applicable securities law.

Certain insiders of our company may participate in the offering. Insider participation in the offering constitutes a “related party transaction” in the sense of protecting minority securities holders in multilateral securities 61-101 special transactions (“related party transactions”.MI 61-101“). We do not exceed the fair market value of the transaction, section 5.5 of MI 61-101. We expect to rely on the formal evaluation of (a) and 5.7 (1) (a) and the exemption of minority approval requirements. 25% of our market capitalization.

Search Minerals Inc.about

With a proven management team and board of directors, Search focuses on finding and developing critical rare earth element (CREE), zirconium (Zr), and hafnium (Hf) resources within the St. Louis CREE district south of Port Hope Simpson. Is placed. East Labrador. The company manages a belt 63 km long and 2 km wide, has road access, is on the tide and is within three local communities.Search Completed Preliminary Economic Assessment Report FOXTROT, And resource estimates Deep Fox.. Search is also working on three exploration prospects along the belt. FOX MEADOW, SILVER FOX When Great fox..

Search continues to optimize its patented direct extraction process technology with generous support from the Newfoundland and Labrador State Government’s Tourism, Culture, Industry and Innovation sector.InnovateNL“) And Atlantic Canada Opportunity Agency (“ACOA“). Two pilot plants have been completed to produce highly purified mixed rare earth carbonate concentrates and mixed REO concentrates for separation and purification. For more information on searching, please visit www.searchminerals.ca.

For more information, please contact:

Greg Andrews
President and Chief Executive Officer
Tel: 604-998-3432
Email: info@searchminerals.ca

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.

Precautions regarding forward-looking statements: This news release contains specific forward-looking statements and forward-looking information (collectively, “Future Outlook Statements”). All statements other than the historical facts contained in this release include, but are not limited to, statements regarding offerings, use of revenue from offerings, and other future plans and company objectives. There is no guarantee that such statements will prove accurate and that actual results and future events may differ from what was expected in such statements. Significant risk factors that may cause actual results to differ materially from our plans or expectations include the failure to obtain approval for the offering by the TSX Venture Exchange, the proposed conditions that the revenue from the offering cannot be used as expected. Unable to raise sufficient funding, or at all, and risks associated with mineral exploration. This involves the risk that actual results and timing of exploration and development may differ from what management expects... The forward-looking statements in this news release are based on management’s assumptions and expectations, with the approval of the offering by the TSX Venture Exchange, and we use the revenue from the offering as expected. You will be able to do it. As with the other assumptions disclosed in this news release, the assumption that the above risks do not materialize is completed. We expressly disclaim any intention or obligation to update or revise any forward-looking statement as new information, future events, or other consequences, except as required by applicable securities law. ..


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Search Minerals Inc. Announces $ 5,000,000 Non-Mediated Private Placement, Canadian Business Journal

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