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EDM Resources Inc. Capital/Financing Update 2022
45546_rns_2022-04-04_2a2bfda0-3e5b-4865-a287-7a1f058a1cac.pdf
Capital/Financing Update
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NEWS RELEASE APRIL 4, 2022
EDM REPORTS ENTERING INTO EXCLUSIVE NEGOTIATIONS FOR THE SCOTIA MINE DEBT FINANCING AND OFFTAKE
Halifax, Nova Scotia, April 4, 2022 – EDM Resources Inc. (TSX-V: EDM) ("EDM" or the "Company") announces that it is in advanced exclusive discussions to obtain debt financing and enter into an offtake agreement sufficient to put EDM's Scotia Mine into commercial production in Q4 of 2023.
EDM's President and CEO, Mr. Mark Haywood, stated: "We are very pleased with our progress to date in selecting a potential transaction partner for the financing of the Scotia Mine and advancing our discussions of the terms of potential financing and offtake agreements. While we do not have a binding agreement as of yet, we are confident that upon the satisfactory completion of mine site due diligence by the prospective counterparty and following further negotiations, we will be in a position to announce that we have secured the financing we need move the Scotia Mine forward to production."
EDM will provide an update on the status of the negotiations and any agreements reached respecting the finance and offtake at or prior to the end of April 2022.
About EDM Resources Inc.
EDM is a Canadian exploration and mining company that has full ownership of the Scotia Mine and related facilities near Halifax, Nova Scotia. EDM also holds several prospective exploration licenses near its Scotia Mine and in the surrounding regions of Nova Scotia.
The Company's common shares are traded on the TSX Venture Exchange under the symbol "EDM". For more information, please contact:
| MarkHaywoodRobertSuttieSimionCandrea | President&ChiefExecutiveOfficerChiefFinancialOfficerVice President, Corporate Development |
|---|---|
| HeadOffice | Purdy'sWharf,1959UpperWaterStreet,Suite1301,NovaScotia,B3J3N2, Canada |
| Telephone | +1 (902)4824481 |
| Facsimile | +1 (902)4222388 |
| Email&Web | [email protected]& www.EDMresources.com |
The Company's corporate filings and technical reports can be viewed on the Company's SEDAR profile at www.sedar.com. Further information on EDM is also available on Facebook at http://www.facebook.com/EDMresources.inc Twitter at http://www.twitter.com/EDMresources and LinkedIn at http://www.linkedin.com/company/EDMresources.
CAUTIONARY STATEMENTS
Neitherthe TSXVentureExchangenorits RegulationServicesProvider(asthat termis definedin the policies ofthe TSX VentureExchange) acceptsresponsibility forthe adequacyor accuracy of this newsrelease.
Thisnewsreleaseincludes certainforward-lookingstatementswhicharenot comprisedof historicalfacts.Forward-looking statementsinclude estimates and statementsthat describe theCompany'sfuture plans, objectives or goals,includingwords to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "should", "could", "would", "will", or "plan".Sinceforward-lookingstatements arebasedon assumptions andaddressfutureevents andconditions,by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currentlyavailable to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and otherfactorsinvolvedwith forward-lookinginformation could cause actual events, results,performance, prospects and opportunities to differ materially from those expressed or implied by such forwardlooking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements, potential mineralization, exploration and development results, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. There can be no assurance thatforward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual resultsto differ materially from EDM's expectationsinclude, among others, the degree to which mineralresourceandreserveestimates are reflective of actual mineralresources and reserves, the degree to which factors are present which would make a mineral deposit commercially viable,the priceof zinc, lead and gypsum,uncertainties relatingtoavailabilityandcostsoffinancingneeded in the future, changesin equity markets, risksrelated to international operations, the actual results of current exploration activities, delays in the development of projects, conclusions of economic evaluations and changesin project parameters as plans continue to be refined as well asfuture prices of metals, ability to predict or counteract potential impact of COVID-19 coronaviruson factorsrelevantto theCompany'sbusiness, aswell asthosefactorsdiscussedinthesectionentitled"Risk Factors" in EDM's management's discussion and analysis of the Company's annual financial statements for the period ended December 31, 2020. Although EDM has attempted to identify importantfactorsthat could cause actualresultsto differ materially, theremay be otherfactorsthat cause resultsto be not as anticipated, estimated or intended. 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 statements. Accordingly, readers shouldnot place undue relianceon forward-lookingstatements.