Sun Summit corrects placement finders’ fees, warrants

Dec 23, 2024

2024-12-21 02:38 ET – News Release

Mr. Brian Lock reports

SUN SUMMIT ANNOUNCES CORRECTION TO PRIVATE PLACEMENT NEWS RELEASE

Sun Summit Minerals Corp. has closed its non-brokered private placement previously announced in the company’s press release on Dec. 2, 2024, through the issuance of: (i) 13,748,621 flow-through units of the company at a price of 14.5 cents per FT unit; and (ii) 5,265,384 non-flow-through units of the company at a price of 13 cents per NFT unit, for aggregate gross proceeds to the company of $2,678,049.97.

In connection with the private placement, the company paid aggregate cash finders’ fees of $124,825.50 and granted an aggregate of 869,554 non-transferable finder warrants of the company to arm’s-length finders of the company in connection with the private placement. The amounts shown in the previous news release were incorrect.

Each finder warrant entitles the holder thereof to purchase one common share of the company, at an exercise price of 13 cents per share until Dec. 20, 2027, in respect of the NFT unit portion of the private placement and 14.5 cents per share until Dec. 20, 2026, in respect of the FT unit portion of the private placement. With respect to the finder GloRes Securities Inc., 50 per cent of its finder warrants, being 81,000 finder warrants, were issued to Marquest Asset Management Inc. under a selling concession agreement between these entities.

The private placement is subject to the final approval of the TSX Venture Exchange. The securities issued in the private placement are subject to a hold period expiring on April 21, 2025, in accordance with applicable securities laws.

About Sun Summit Minerals Corp.

Sun Summit is a mineral exploration company focused on expansion and discovery of district-scale gold and copper assets in British Columbia. The company’s diverse portfolio includes the JD project in the Toodoggone region of north-central British Columbia and the Buck project in central B.C.

Sun Summit is committed to environmental and social responsibility, with a focus on accountable development and building respectful and beneficial relationships with indigenous and local communities.

We seek Safe Harbor.

https://sunsummitminerals.com/