SCOTCH CREEK VENTURES CLOSES FIRST TRANCHE OF OVERSUBSCRIBED PRIVATE PLACEMENT
Vancouver, British Columbia, December 16, 2021 – Scotch Creek Ventures Inc. (the “Company”) (CSE:SCV) (FSE:7S2) (“Scotch Creek” or the “Company”) is pleased to announce that its 12,000,000 unit private placement announced November 16, 2021 has been oversubscribed. The Company has determined to accept the oversubscription and has closed its first tranche consisting of 12,620,100 units (each a “Unit”) at $0.50 per Unit for gross proceeds of $6,310,050.
The Company paid an aggregate of $308,070 in finders fees and issued 638,540 in finders’ warrants exercisable at $0.50 per share for a period of 1 year from the date of issuance.
The Company expects to close an additional tranche prior to December 19, 2021.
Scotch Creek Ventures’ CEO, Mr. David Ryan, commented ““The interest from the investment community has been very encouraging. With the closing of this financing, we are now in a strong position to advance both of our lithium projects in Clayton Valley.”
All securities issued in connection with the Offering are subject to a standard hold period of four months and one day in accordance with applicable securities laws.
About Scotch Creek Ventures
Scotch Creek is a mineral exploration company, focused on the acquisition, exploration, and development of lithium projects located in tier-one North American mining jurisdictions. Scotch Creek’s mission is to become a best-in-class lithium exploration company situated in one of the most promising lithium districts in the world, Clayton Valley, Nevada.
On behalf of the Board of Directors
“David K. Ryan”
David Ryan
Chief Executive Officer
Further information about the Company is available on our website at www.scotch-creek.com or under our profile on SEDAR at www.sedar.com, and on the CSE website at www.thecse.com.
Public Relations Contact
Scotch Creek Ventures Inc. Telephone: +1.604.283.5636 Email: info@scotch-creek.com
Website: www.scotch-creek.com
The CSE has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Caution Regarding Forward-Looking Information
Certain statements contained in this news release may constitute forward-looking information. Forward- looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company’s strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.