August 21, 2018 – International Samuel Exploration Corp. (the “Company” or “International Samuel”) (TSXV: ISS USA: ISSFF FSE: RFC2) is pleased to announce that further to the Company’s news release of August 9, 2018, 5,000,000 flow-through units (“FT Units”) at a price of $0.06 for total proceeds of $300,000, the Company is oversubscribed 5,481,666 FT Units for total proceeds of $328,900 and closed the private placement.
In connection with the financing, the Company issued a total of 365,200 warrants to finders (the “Finder Warrants”). Each Finder Warrant will entitle the finder to purchase an additional common share for one year at a price of $0.10 per common share. The Company also paid to finders a total of $21,912 in cash fees associated with this financing.
All securities issued pursuant to the closing are subject to a hold period of four months and one day from their date of issuance in accordance with applicable Canadian securities laws
The proceeds of the private placement will be used for the purpose of carrying out the exploration programs on the Company’s British Columbia property.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact:
International Samuel Exploration Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this news release constitute “forward-looking” statements. These statements relate to future events or the Company’s future performance as described in the above news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.