Tasca Closes Private Placements of Flow Through and Non Flow Through Units

Tasca Closes Private Placements of Flow Through and Non Flow Through Units

Vancouver, British Columbia (FSCwire) – Tasca Resources Ltd. (“Tasca”, “TAC” or the “Company”) (TSX Venture symbol: TAC) is pleased to announce that, further to its News Release of August 10, 2018, it has closed its private placement offering of Non Flow Through Units (each a “NFT Unit”) and Flow Through Units (each a “FT Unit”), raising aggregate gross proceeds of $767,200.

In the private placement, Tasca sold 9,260,000 NFT Units at a price of $0.05 per NFT Unit for gross proceeds of $463,000, and 4,680,000 FT Units at a price of $0.065 per FT Unit for gross proceeds of $304,200, for aggregate gross proceeds of $767,200.

Each NFT Unit is comprised of one common share of the Company and one full share purchase warrant (each a “NFT Unit Warrant”).  Each NFT Unit Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.075 per common share until September 4, 2020.

Each FT Unit is comprised of one common share of the Company and one-half (1/2) of one share purchase warrant (each such whole warrant being a “FT Unit Warrant”).  Each FT Unit Warrant entitles the holder to purchase one additional common share of the Company at an exercise price of $0.10 per common share (which will not be a flow-through share) until September 4, 2020.

Finders’ fees were paid to three finders in the form of cash and brokers’ units, in the aggregate total of $65,495 in cash, 574,500 common shares and 601,000 brokers’ warrants.  Of the 601,000 total brokers’ warrants to be issued, 377,000 entitle the holder to purchase one additional common share at $0.075 per common share and 224,000 entitle the holder to purchase one additional common share at $0.10 per common share until September 4th, 2020

All of the securities issued in the private placement are subject to a four month and one day hold period.

A director of the company subscribed for 1,400,000 of the NFT Units sold in this private placement.  This director is considered to be a “related party” to Tasca within the meaning of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and the issuance of these 1,400,000 NFT Units to him is considered to be a “related party transaction” within the meaning of MI 61-101, but this transaction is exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in Section 5.5(a) of MI 61-101, and from the minority shareholder approval requirement of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(a) of MI 61-101, in that the fair market value of the consideration paid for the NFT Units (on a partially diluted basis) by the related party does not exceed 25% of the Company’s market capitalization.

About Tasca Resources

Tasca Resources Ltd. (TAC: TSX-V) is a Canadian-based mineral exploration company focused on the acquisition, exploration and development of mineral properties. Our objective is to build shareholder value through exploration and potential development or acquisition of existing projects with significant up-side.

For additional information regarding the above noted Property and other corporate information, please visit the Company’s website at www.tascaresources.com

ON BEHALF OF THE BOARD OF DIRECTORS

“Clive Massey”

Clive H. Massey

President & CEO

For further information, please contact:

Tasca Investor Relations

Phone: (604) 644-6794; Email: info@tascaresources.com

#830 – 1100 Melville St. | PO Box 43 | Vancouver | BC | V6E 4A6

Tel: (604) 341-6870 | Fax: (604) 395-7068

Website: www.tascaresources.com

Neither 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.

Forward-Looking Statements

This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Tasca Resources Ltd. 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 may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Tasca Resources Ltd. management on the date the statements are made. Except as required by law, Tasca Resources Ltd. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

2018-09-30T19:44:27+00:00

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