Wildcat Exploration Ltd.
TSX VENTURE : WEL

Wildcat Exploration Ltd.

June 16, 2015 10:50 ET

Wildcat Exploration Announces Private Placement, New Date for Annual and Special Meeting

WINNIPEG, MANITOBA--(Marketwired - June 16, 2015) - Wildcat Exploration Ltd. (TSX VENTURE:WEL) is pleased to announce that, subject to regulatory approval, it intends to complete a non-brokered private placement of flow-through units and non-flow through units of the Company to raise gross proceeds of up to $400,000.

Each flow-through unit ("FT Unit"), to be issued at a price of $0.05 per FT Unit, consists of one flow through common share and one share purchase warrant which entitles the holder to acquire a non-flow through common share of the Company at a price of $0.10 per share during the 24 month period following closing. Each non-flow through unit ("NFT Unit"), to be issued at a price of $0.05 per NFT Unit, consists of one common share and one share purchase warrant which entitles the holder to acquire a non-flow through common share of the Company at a price of $0.05 per share during the 24 month period following closing.

Pursuant to the private placement, up to 8,000,000 units, in a proportion of FT Units and NFT Units to be determined by the Company, will be issued on closing. Insiders of the Company may participate for greater than 25% of the private placement.

The proceeds from sale of the FT Units will be used for the Company's exploration projects including the Pikoo, SK area diamond properties which it intends, subject to regulatory approval, to acquire from Copper Reef Mining Corporation, Strike Diamond Corp. and Kalt Industries Ltd. (see news release dated May 12, 2015) and proceeds from the sale of NFT Units will be used for general corporate purposes.

The Company may pay finders' fees of up to 6% of the gross proceeds raised from the sale of units in cash and may issue warrants of up to 6% of the number of FT Units and NFT Units sold to parties introduced to the Company by the respective finder on terms identical to those of the warrants contained in the respective units.

All securities distributed pursuant to the private placement are subject to a hold period of four months following closing.

New Annual and Special Meeting Date

The Company announces that it has rescheduled its annual and special meeting of shareholders (the "Meeting"), originally scheduled for June 29, 2015, to Wednesday, July 8, 2015. The postponement was to allow time for the Company to advance the preparation of documents, and to incorporate information relating to its previously announced intention to acquire diamond exploration property interests in the Pikoo and Fort a la Corne areas of Saskatchewan and gold exploration property interests in the Flin Flon area of Manitoba (see news release May 12, 2015) in the proxy, notice and information circular for the Meeting.

The record date for determining shareholders entitled to receive notice and to vote at the Meeting, May 29, 2015, is unchanged.

About Wildcat

Wildcat Exploration Ltd. is a Winnipeg-based company exploring for minerals in Canada. It manages exploration on its properties in Ontario, Manitoba and Saskatchewan. In addition, Wildcat is the manager of the Wildcat - Doe Run Canadian Exploration Alliance, which explores for base metal deposits in Canada.

For further information on Wildcat, please visit www.wildcat.ca.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.

Cautionary Note

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release may contain "forward-looking information", within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to Wildcat's exploration program and plans. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Wildcat to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Wildcat does not undertake to update any forward- looking information, except in accordance with applicable securities laws.

Contact Information

  • Wildcat Exploration Ltd.
    John Knowles
    President & CEO
    (204) 294-2334
    info@wildcat.ca