VANCOUVER, British Columbia, Feb. 25, 2022 (GLOBE NEWSWIRE) -- Baden Resources Inc. (CSE: BDN) ("Baden" or the "Company") is pleased to announce it has closed its previously announced non-brokered private placement (the "Private Placement") consisting of 2,000,000 units ("Units") at a price of $0.10 per Unit for total gross proceeds of $200,000. Each Unit consists of one common share (a "Common Share") and one whole Common Share purchase warrant (a "Warrant"). Each Warrant is exercisable for one additional Common Share at an exercise price of $0.13 for until May 25, 2023.
All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance.
The Company intends to use the net proceeds of the Private Placement for general corporate purposes and working capital.
ON BEHALF OF THE COMPANY
Howard Milne, Chief Executive Officer
For further information, please contact Howard Milne, CEO at 604-377-8994 email hdmcap@shaw.ca
Cautionary Statements Regarding Forward Looking Information
This press release may contain “forward-looking information or statements” within the meaning of Canadian securities laws, which may include, but are not limited to, statements relating to the use of proceeds of the Private Placement. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.
Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
