Churchill Resources Announces Completion of $3,000,000 Private Placement

Core Viewpoint - Churchill Resources Inc. has successfully closed a non-brokered private placement, raising gross proceeds of $3,000,000 through the sale of 37,500,000 common shares at a price of $0.08 per share [1][2]. Group 1: Private Placement Details - The proceeds from the private placement will be utilized to advance strategic assets in Newfoundland & Labrador, particularly the Black Raven Antimony-Gold Project and for general corporate purposes [2]. - The company paid a cash fee of $210,000 to eligible finders, which is 7% of the gross proceeds, and issued 2,625,000 non-transferrable finders warrants to these finders [3]. - Each finders warrant allows the holder to acquire one share at a price of $0.08 for a period of 24 months following the completion of the private placement [3]. Group 2: Regulatory and Corporate Actions - The securities issued in the private placement are subject to a statutory hold period of four months and one day from the date of issuance and are pending final approval from the TSX Venture Exchange [4]. - The board of directors has approved the grant of 8.2 million stock options to certain directors, officers, and consultants, exercisable at a price of $0.14 with a five-year term [4]. Group 3: Company Overview - Churchill Resources Inc. is focused on strategic, critical minerals in Canada, with key properties including Black Raven, Taylor Brook, and Florence Lake in Newfoundland and Labrador [5]. - The Black Raven property, which hosts the historic Frost Cove Antimony Mine, presents a unique exploration opportunity due to its polymetallic metal assemblage and historical production [5]. - The management team has extensive experience in mineral exploration and the establishment of successful publicly listed mining companies [5].