Navy Resources Corp. (TSX-V: NVY) (the “Company”) is pleased to announce that further to its news releases dated August 9, 2019 and August 27, 2019, it has completed the previously announced private placement financing (the “Financing”) and has issued 7,350,000 common shares (each, a “Share”) at a price of $0.10 per Share for gross proceeds of $735,000. No finder’s fees were issued in connection with the Financing. Proceeds from the Financing will be used for general working capital. The securities issued under the Financing are subject to a statutory hold period expiring on January 19, 2020.
The Company also announces that further to the Company’s news releases dated August 9, 2019 and September 11, 2019, it has issued a total of 2,480,800 Shares at a deemed price of $0.10 per Share to two creditors pursuant to debt settlement agreements.
On behalf of the Board of Directors,
CFO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.