Churchill Resources Announces Completion of $700,000 Private Placement

Core Viewpoint - Churchill Resources Inc. has successfully closed a non-brokered private placement, raising $700,000 through the sale of 14,000,000 common shares at $0.05 per share [1][2]. Group 1: Private Placement Details - The proceeds from the private placement will be utilized for advancing exploration activities at key projects and for general corporate purposes [2]. - No agency or finder's fees were incurred in connection with the private placement, and the shares issued will be subject to a statutory hold period of four months and one day [2]. - The private placement is pending final approval from the TSX Venture Exchange [2]. Group 2: Insider Participation - Certain insiders acquired a total of 3,000,000 shares in the private placement, which is classified as a "related party transaction" under Multilateral Instrument 61-101 [3]. - The company is exempt from obtaining a formal valuation or minority shareholder approval for the insiders' participation based on specific sections of MI 61-101 [3]. - A material change report was not filed 21 days prior to the closing as insider participation had not been confirmed at that time [3]. Group 3: Company Overview - Churchill Resources Inc. is focused on exploring strategic, critical minerals in Canada, particularly at its Black Raven, Taylor Brook, and Florence Lake properties in Newfoundland and Labrador [4]. - The Black Raven property is noted for its polymetallic metal assemblage and historical production, presenting a unique exploration opportunity [4]. - The management team has extensive experience in mineral exploration and establishing successful publicly listed mining companies [4].