Not for Distribution to U.S. Newswire Services or Dissemination in the United States
January 30, 2023 (Vancouver, BC) - Regulus Resources Inc. (“Regulus” or the “Company”, TSX-V: REG, OTCQX: RGLSF) is pleased to announce it has completed its previously announced non-brokered private placement of 22,658,974 common shares (“Common Shares”) at a price of $1.02 per Common Share for total gross proceeds of C$23,112,153 (the “Private Placement”), led by a strategic investment from Nuton LLC, a Rio Tinto Venture (“Nuton”) (see news releases dated December 22, 2022 and January 20, 2023).
Nuton acquired 20,058,974 Common Shares for total proceeds of C$20,460,153. Route One Investment Company LLC, Regulus’ largest shareholder, has participated in the Private Placement and acquired 2,600,000 Common Shares for total proceeds of C$2,652,000.
Regulus intends to use the funds to advance the AntaKori project and for general corporate purposes.
In accordance with applicable Canadian securities laws, the Common Shares issued pursuant to the Private Placement will be subject to a four (4) month hold period ending May 28, 2023. The Offering remains subject to final approval from the TSX Venture Exchange.
The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
ON BEHALF OF THE REGULUS BOARD
(signed) “John Black”
CEO and Director
Tel: +1 (604) 685-6800
For further information, please contact:
Regulus Resources Inc.
Tel: +1 1 347 394 2728 or +44 7538 244 208
About Regulus Resources Inc. and the AntaKori Project
Regulus is an international mineral exploration company run by an experienced technical and management team. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern Peru. The AntaKori project currently hosts a resource with indicated mineral resources of 250 million tonnes with a grade of 0.48 % Cu, 0.29 g/t Au and 7.5 g/t Ag and inferred mineral resources of 267 million tonnes with a grade of 0.41 % Cu, 0.26 g/t Au, and 7.8 g/t Ag (independent technical report prepared by AMEC Foster Wheeler (Peru) S.A., a Wood company, titled AntaKori Project, Cajamarca Province, Peru, NI 43-101 Technical Report, dated February 22, 2019 - see news release dated March 1, 2019). Mineralization remains open in most directions.
For further information on Regulus, please consult our website at www.regulusresources.com.
Forward Looking Information
Certain statements regarding Regulus, including management’s assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus’ control. Often, but not always, forward-looking statements or information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.
Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Regulus expects or anticipates will or may occur in the future, including the expected use of proceeds of the Private Placement, the proposed exploration and development of the AntaKori project described herein, and management’s assessment of future plans and operations and statements with respect to the completion of the anticipated exploration and development programs, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus’ control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Regulus believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward-looking statements contained in this press release are made as of the date hereof and Aldebaran does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.