Straightup Resources Closes Private Placement and Appoints New CEO and President
Vancouver, British Columbia (Newfile Corp – April 28, 2021) – Straightup Resources Inc. ("Straightup" or the "Company") (CSE: ST) announces it has closed a non-brokered private placement (the "Private Placement"), pursuant to which it raised C$697,700 by the issuance of 5,814,157 units at a price of C$0.12 per unit (the “Units”). Each Unit consists of one common share and one-half share purchase warrant, with each whole warrant entitling the holder thereof to purchase one common share at a price of C$0.20 per share, exercisable for a period of one year from the date of issuance.
In connection with the Private Placement, the Company paid to Research Capital Corporation finder’s fees consisting of a cash payment of C$22,290 and the issuance of 166,950 non-transferable finder's warrants (each, a "Finder's Warrant", with each Finder's Warrant entitling the holder thereof to purchase one common share at a price of C$0.20 per common share for a period of one year from the date of issuance.
The net proceeds from the Offering will be used for the advancement of the Company’s exploration assets and for general working capital.
All securities issued in connection with the Offering are subject to a hold period expiring on August 30, 2021.
In addition, the Company is pleased to announce that Mark Brezer has been appointed as the President and Chief Executive Officer of the Company, effective immediately. Matthew Coltura, the former President and Chief Executive Officer, will remain with the Company as a valuable member of the Board of Directors.
About Straightup Resources
Straightup is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop economic precious and base metal properties of merit. In addition to exploration of its Red Lake Division properties, Straightup intends to conduct exploration on the Hi-Mars Property and the Ferdinand Gold Property. The Hi-Mars Property consists of 11 contiguous mineral titles covering an area of 1,788 hectares located approximately 17 kilometres northeast of the City of Powell River in southwest British Columbia, Canada, within the Vancouver Mining Division.
On Behalf of the Board of Directors
Mark Brezer
Chief Executive Officer, President and Director
For further information, please contact:
Matthew Coltura (778) 886-6200
Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release).