NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
MONTRÉAL, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Morocco Strategic Minerals Corporation. (TSXV: MCC) ("Morocco Strategic Minerals" or the "Corporation") is pleased to announce the closing of a non-brokered private placement, raising total gross proceeds of $1,000,000 through the issuance of 10,000,000 units of the Corporation ("Units") at a price of $0.10 per Unit (the "Offering").
Each Unit consists in one common share of the Corporation (a “Common Share”) and one half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant entitles its holder to purchase one Common Share at an exercise price of $0.15 per Common Share for a period of 24 months.
All securities issued in connection with the Offering are subject to a statutory hold period ending four-month and one day from the date of their issuance, in accordance with applicable securities laws. The Offering remains subject to final approval from the TSX Venture Exchange (“TSXV”).
In connection with the completion of the Offering, the Corporation expects to pay finder’s fees in an aggregate amount of $70,000 and issue a total of 700,000 Warrants to arm’s length third parties who assisted the Corporation by introducing subscribers to the Offering.
The Corporation intends to allocate the net proceeds from the Offering towards the development of the Corporation's portfolio in Québec and Morocco, encompassing potential growth opportunities, as well as for general working capital purposes.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
PDAC Convention
Morocco Strategic Minerals would like to invite its shareholders and other stakeholders to visit us at booth #3021 in the Investors Exchange Exhibition Room at the Prospectors and Developers Association of Canada (PDAC) Convention. The PDAC, one of the world's premier resource conferences, will be held at the Metro Toronto Convention Centre in Ontario from Sunday, March 2, 2025 to Wednesday, March 5, 2025.
Previous Private placement
With reference to the Corporation's press release issued on January 24, 2025, under the second tranche, the Corporation issued 2,987,500 units (instead of 3,087,500 units), at a price of $0.08 per unit, for gross proceeds of $239,000.
In the aggregate, the Corporation raised gross proceeds of $939,000 and issued 11,737,500 Units under the Private Placement.
Digital Marketing Services Agreement
Further to the Corporation’s press release dated January 24, 2025, announcing the engagement of Senergy Communications Capital Inc. ("Senergy") to provide digital marketing services, Senergy is a Vancouver, British Columbia based communications and media marketing company with the goal of helping public companies reach new investors and maintain relationships with shareholders using online strategies and paid ads. Senergy, has the ability to execute and deliver effective digital marketing services between public companies and investors. For more information regarding Senergy please visit: www.senergy.capital.
Senergy and its principal and Chief Executive Officer Aleem Fidai are at arm's length to the Corporation and advise they do not own any securities in the Corporation and do not have any right or intent to acquire an interest in the Corporation.
About Morocco Strategic Minerals
Morocco Strategic Minerals Inc. is a Canadian mineral exploration company focused on the acquisition, exploration, and, if warranted, development of natural resource properties of merit in Canada and Morocco.
Contact Information
Pierre-Olivier Goulet Vice-President Corporate Development Email: pogoulet@moroccosm.com 1-450-821-5270
Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as "will be," "expected," or variations of such words and phrases, or statements that certain actions, events, or results "will" occur. Forward-looking statements, including statements relating to the intended use of the net proceeds from the Offering, are based on the Corporation's estimates and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results, level of activity, performance, or achievements of the Corporation to be materially different from those expressed or implied by suchforward-lookingstatementsorforward-lookinginformation.Therecanbenoassurancethat such statements will prove to be accurate, as actual results and future events could differ materiallyfromthoseanticipatedinsuchstatements.Accordingly,readersshouldnotplaceundue relianceonforward-lookingstatementsandforward-lookinginformation.TheCorporationwillnot update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securitieslaws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
