TORONTO, July 15, 2021 (GLOBE NEWSWIRE) — SULLIDEN MINING CAPTIAL INC. (“Sulliden” or the “Company”) (TSX: AAB) has acquired 24,720,943 units of Medivolve Inc. (“Medivolve”) (NEO: MEDV) in a non-brokered private placement financing of MEDV at a price of $0.07 per unit for a total subscription price of $1,730,466.01. Each unit is comprised of one Medivolve common share and one Medivolve common share purchase warrant. Each common share purchase warrant is exercisable for one common share of Medivolve at a price of $0.08 for a period of five years.
Prior to the closing of the MEDIVOLVE private placement, Sulliden held 215,000 common shares and 2,040,000 warrants, representing approximately 0.1% of MEDIVOLVE’s issued and outstanding common shares and 1% on a partially diluted basis. Subsequent to the closing of MEDIVOLVE’s private placement on July 9, 2021, Sulliden presently holds 24,935,943 common shares and 26,760,943 warrants representing approximately 6.4% of MEDIVOLVE’s issued and outstanding common shares and 12.4% on a partially diluted basis.
Sulliden completed this private placement for investment purposes and may buy or sell Medivolve securities in the future.
Sulliden is a venture capital company focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas.
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Cautionary statement regarding forward-looking information
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Company’s future plans, operations and activities, projected mineralization, predictions with respect to precious and base metal markets, and the ability of the Company to execute its business plans. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company’s website at www.sulliden.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Neither the TSX nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.