June 14, 2021 – Vancouver, British Columbia – Major Precious Metals Corp. (“Major Precious Metals” or the “Company”) (CSE:SIZE | OTC:SIZYF | FRANKFURT:3EZ) is pleased to announce that it is offering subscribers a non-brokered Private Placement through the issuance of 28,600,000 units (the “Units”) of the Company at a price of C$0.35 per Unit for gross proceeds of C$10,000,000 (the “Offering”). Each Unit consists of one (1) common share of the Company (a “Common Share”) and one half (1/2) of one transferable common share purchase warrant (with two such half warrants being a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one (1) additional Common Share for a period of 2 years from the applicable closing date at a price of C$0.70 per Common Share, subject to an acceleration provision should the Company’s Common Shares trade above C$1.20 for a period of 10 trading days.
Tony Williams, Chairman and CEO of Major Precious Metals commented, “This injection of additional capital together with the ongoing combination of warrants and options being exercised by existing long-term shareholders will serve to continue to finance the extensive drilling and economic evaluation of the Company’s Skaergaard Project in Greenland, as has been well documented and previously announced by the Company.
I am pleased to say that we have already received firm commitments of C$5,000,000 for the Offering from these same long-term shareholders, who we would like to thank wholeheartedly for their commitment and vision as to the value creation that has already occurred over the past 6 months since the Company acquired the Skaergaard Project.
I believe it is important to frame the magnitude of this opportunity. With regards to Skaergaard, the Company is developing a globally significant precious metal deposit (palladium, platinum, and gold) with 5.51 Moz contained PdEq ounces in the Indicated Resource category and 14.4 Moz contained PdEq ounces in the Inferred Resource category, as determined by SLR Consulting (Canada) Ltd. and disclosed in the Company’s news release dated April 23, 2021, and further detailed in the Company’s NI 43-101 technical report filed on SEDAR on May 25, 2021.
The Skaergaard Project also contains other “critical metals” such as vanadium and titanium, which will be evaluated for their economic potential as part of the upcoming summer exploration program, an updated mineral resource estimate, and PEA. Moreover, the mineralization within the licence area of the Skaergaard layered intrusion is open in all directions and the Company plans to explore its new large exploration licence to the north. We are now fully prepared for the summer exploration program at Skaergaard with mobilization planned in early July.
It is also interesting to note that Greenland ranks second in Europe after Finland and above Mexico, Norway, and Canada’s Northwest Territories in “Investment Attractiveness” according to the recent Fraser Institute Annual Survey of Mining Companies (2020), and that is reflected in its fair and modern mineral licencing framework.
Skaergaard as a development project has been effectively dormant for over a decade and we are relaunching at a time of buoyant precious metal prices, and we believe we can add further significant value as we progress the Skaergaard Project along the Mine Development Cycle over the coming months.”
Private Placement Details
The securities issued pursuant to the Offering will be subject to a four (4) month hold period from the applicable closing date. The closing of the Offering is subject to a number of conditions including, but not limited to approval of the Offering by the Canadian Securities Exchange. The Company may pay Finders Fees to applicable finders and the Offering may be closed in one or more tranches.
Proceeds from the Offering will be used to progress exploration and evaluation of the Company’s Skaergaard Project and for general working capital purposes.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Paul Ténière, P.Geo., President of Major Precious Metals Corp, who is a Qualified Person as defined in NI 43-101
On behalf of the Board of Directors
MAJOR PRECIOUS METALS CORP.
Anthony (Tony) Williams
Chairman and CEO
Suite 810 – 789 West Pender Street
Vancouver, BC V6C 1H2
About Major Precious Metals Corp.
Major Precious Metals is a Canadian junior mining company listed on the Canadian Securities Exchange (“CSE”) and its common shares trade under the ticker symbol “SIZE”. The Company’s flagship project is the Skaergaard Project in Greenland containing one of the largest palladium and gold deposits outside the major PGM producing areas of Russia and South Africa. The Company is focused on accelerating the progress of the Skaergaard Project along the Mine Development Cycle and has recently initiated a further major work program of drilling and economic evaluation.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.
Forward-looking Information Statement
This news release may contain certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian and United States securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the anticipated completion of the Acquisition, the process by which the Company intends to obtain shareholder approval for the Acquisition, regulatory requirements or approvals necessary for completion of the Acquisition, the resumption of trading in the common shares of the Company, and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.