/THIS NEWS RELEASE IS INTENDED FOR
DISTRIBUTION IN CANADA ONLY AND IS
NOT INTENDED FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, Dec. 20, 2018 /CNW/ - Murchison Minerals Ltd.
("Murchison" or the "Company") (TSXV: MUR) announces
a non-brokered private placement of up to $500,000 (the "Private Placement") as
detailed below.
The Company will issue up to 5,555,555 flow-through common
shares (the "FT Shares") at a price of $0.09 per FT Share. Proceeds from the Private
Placement will be used by the Company for exploration on its
Brabant-McKenzie zinc-copper-silver deposit in Saskatchewan.
Certain directors and officers of the Company may acquire
securities under the Private Placement. Any such participation
would be considered to be a "related party transaction" as defined
under Multilateral Instrument 61-101 ("MI 61-101"). The
transaction will be exempt from the formal valuation and minority
shareholder approval requirements of MI 61-101 based on a
determination that the securities of the Company are listed on the
TSX Venture Exchange ("TSXV") and that the fair market value
of the Private Placement, insofar as it involves interested
parties, does not exceed 25% of the market capitalization of the
Company. The Private Placement was approved by all independent
directors of the Company.
A finder's fee may apply to a portion of the proceeds raised
under the Private Placement in the amount of 6% cash. All
securities issued under the Private Placement will have a four
month and one day hold. The completion of the Private
Placement is subject to final approval from the TSXV.
About Murchison Minerals Ltd.
Murchison
Minerals Ltd. is a Canadian based exploration company focused on
the exploration and development of the 100% owned
Brabant-McKenzie zinc-copper project in North-Central Saskatchewan.
The Company also has a 50% interest in the HPM
nickel/copper/cobalt project in Quebec and gold
projects in the Pickle Lake
area of northwestern Ontario.
Additional information about Murchison Minerals and its
exploration projects can be found on the Company's website at
www.murchisonminerals.com.
Forward-Looking Information
Certain
information set forth in this news release may contain
forward-looking information that involves substantial known and
unknown risks and uncertainties. This forward-looking information
is subject to numerous risks and uncertainties, certain of which
are beyond the control of the Company, including, but not limited
to, the impact of general economic conditions, industry conditions,
and dependence upon regulatory approvals. Readers are cautioned
that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking information. The parties undertake no
obligation to update forward-looking information except as
otherwise may be required by applicable securities
law.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Murchison Minerals Ltd.