VANCOUVER, British Columbia, Feb. 13, 2023 (GLOBE NEWSWIRE) – Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (“company“) announced that it has arranged a non-brokered private placement of $120,000. The proceeds will be for the company’s general working capital and annual ongoing costs of being a public issuer. The financing is on a pro-rated basis at $0.01 per share, subject to regulatory approval. No warrants and no finder’s fee are considered with the financing. Company insiders are expected to participate in the financing.
In addition, the Company intends to proceed with the stock consolidation of one (1) new share for every ten (10) old shares outstanding, subject to regulatory approval. The Company currently has 148,080,995 Common Shares issued. Following the consolidation, the Company will have approximately 14,808,100 common shares to be issued or approximately 16,008,100 common shares to be issued at the closing of the Proposed Financing. The company will not change its corporate name and the stock symbol will remain “MOON”. The company continues to focus on the Blue Moon project and the stock consolidation provides greater flexibility in developing its plans.
John McClintock has resigned as a director of the company. The Company would like to thank Mr. McClintock for his many years of service to the Company.
About Blue Moon Metals
Blue Moon Metals (TSX.V: MOON; OTCQB: BMOOF) is currently progressing its Blue Moon polymetallic deposit which includes zinc, gold, silver and copper. The property is well located with existing local infrastructure including paved highways within three miles of the site; A hydroelectric generating facility a few miles from the site, a three-hour drive to the port of Oakland and a four-hour drive to Reno’s service center. The 43-101 Resource Report is available on the company’s website and was filed at www.sedar.com on November 20, 2018. The company also holds the Yava Polymetallic Project in Nunavut, which is in the same volcanic lithology and south of Glencore’s Hackett River. submit. More information is available on the company’s website (www.bluemoonmetals.com,
for more information contact:
Patrick McGrath, CEO
1-832-499-6009
[email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this release.
The resource estimates included in this news release are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions set forth in the relevant technical reports and otherwise, such statements are not guarantees of future performance and actual results or developments may differ from those in the future. May vary – see statement. Factors that could cause actual results to differ materially from those in the forward-looking statements include market prices for commodities, future exploration results, uncertainties related to the ability to obtain necessary permits, licenses and title, mining changes in government policies regarding issuance, availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that no such statement guarantees future performance and actual results or developments may differ materially from those projected in forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking information, which is presented as of the date expressed in this press release, and the company undertakes no undertaking to publicly update or revise any forward-looking information. does not assume liability, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The securities referred to in this news release are not and will not be registered under the US Securities Act of 1933 and may not be registered or offered or sold in the United States in the absence of an applicable exemption from registration requirements.
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