Vancouver, British Columbia--(Newsfile Corp. - March 4, 2021) - CAVU Mining Corp. (CSE: CAVU) ("CAVU" or the "Company") is pleased to announce that the Company plans to complete a private placement offering for $500,000 by issuance of 1,250,000 units at a price of $0.40 per unit (the "Offering"). Each unit (a "Unit") will be comprised of one common share and one-half common share purchase warrant. Each full warrant entitles the holder to acquire one common share of the Company for a period of two years from the closing of the Offering at an exercise price of $1.00 per share. The warrants may be subject to an accelerated expiry at the Company's discretion if the closing trading price of the Company's shares is greater than $2.00 per share for a period of 10 consecutive trading days.
The proceeds raised from the Offering are expected to be used for the Company's on-going evaluation of potential acquisitions and for general working capital.
All Units to be issued pursuant to the Offering will be subject to a four-month hold under applicable securities laws in Canada.
About CAVU Mining Corp.
CAVU is an acronym used in the aviation industry that stands for "Ceiling and Visibility Unlimited" and denotes ideal flying conditions. CAVU Mining Corp. is a junior mining company engaged in the acquisition, exploration and development of mineral properties in the EV sector. The Company is currently focused on the exploration of its Kitimat Property in British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. Jaap Verbaas, P.Geo.
CEO and Director
CAVU Mining Corp.
This news release contains forward-looking statements, including statements regarding the Offering and the advancement of the Kitimat Project, and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, and which are described in the Company's public filings available under its profile at www.sedar.com. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as required by Canadian securities laws.
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