Montreal, Quebec--(Newsfile Corp. - March 12, 2025) - E-Power Resources Inc. (CSE: EPR) (FSE: 8RO) ("E-Power" or the "Company") announces that it intends to complete a private placement of units for total gross proceeds of up to $500,000 (the "Private Placement").
Securities to be issued pursuant to the Private Placement shall consist of an amount of up to 10,000,000 units of the Company (the "Units") issued at a price of $0.05 per Unit, with each Unit comprising one common share in the capital of the Company (each a "Common Share") and one-half common share purchase warrant (each a "Warrant"), with each warrant entitling its holder thereof to acquire one additional common share of the Company at a price of $0.10 per Common Share for a period of 60 months from the closing date of the offering (the "Offering").
Net proceeds from the Offering will be used by the Company for Tetepisca project development and general working capital purposes.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the Common Shares, the Warrants and Units will be offered by way of private placement pursuant to applicable exemptions from NI 45-106. The Offering is expected to close on or about April 9, 2025, subject to the satisfaction or waiver of the customary closing conditions, including the approval of the Canadian Securities Exchange ("CSE"). The Company may pay brokers in the context of the Offering. The Offering may close in multiple tranches.
The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About E-Power Resources Inc.
E-Power is a Quebec corporation based in Montreal and focused on battery mineral exploration in Quebec. The company is currently advancing two projects: the Tetepisca property, located in the North Shore region of the province, and the Turgeon property, located in the Abitibi region adjacent to the Ontario border. The company's priority target is flake graphite on the Tetepisca property. The Turgeon property is located in the prolific Abitibi gold and base metal mining district, and the company is evaluating Turgeon primarily for its copper-zinc and gold potential.
On Behalf of the Board of Directors
James Cross
President & Chief Executive Officer
+1 (438) 701-3736
info@e-powerresources.com
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance are "forward-looking statements". These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation 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.
The CSE has not reviewed, approved or disapproved the contents of this news release.
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