VANCOUVER, BC – 1111 Exploration Corp. ("Eleven" or the “Company”) (CSE:ELVN) announces that it intends to undertake a non-brokered private placement for gross proceeds of up to $150,000 comprising of 2,500,000 units (“Units”) at a price of $0.06 per Unit (the "Unit Placement"). Each unit will consist of one common share and one whole 18-month warrant exercisable at $0.12 subject to an acceleration provision, which is triggered if at any time the Company’s common shares have a closing price of $0.30 per share for a period of 10 consecutive trading days. The acceleration would be triggered by a news release that would give warrant holders 30 days to exercise. In conjunction with the Unit Placement, the Company also announces a flow-through private placement (the “FT Placement”) for gross proceeds of up to $150,000 comprising of 1,875,000 flow-through shares (“FT Shares”) at $0.08 per FT Share. The FT Placement is anticipated to close prior to December 28, 2021, with the Unit Placement closing in January 2022. Proceeds from the FT Placement will be used to advance its optioned Pinnacle Porphyry property in British Columbia with the proceeds from the Unit Placement being used for general working capital. The FT and Unit Placements are subject to the approval of the Canadian Securities Exchange. About 1111 Exploration Corp.: 1111 Exploration Corp. is a Canadian mineral exploration company focused on creating shareholder value through Exploration, acquisition, and development of mineral projects.
On behalf of the Board of Directors, Scott Young Director
For further information, please call: Scott Young 604-377-5781 email@example.com
Neither Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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