Major Precious Metals Announces C$10,000,000 Non-Brokered Private Placement

VANCOUVER, British Columbia, June 14, 2021 (GLOBE NEWSWIRE) -- Major Precious Metals Corp. (“Major Precious Metals” or the “Company”) (CSE:SIZE | OTC:SIZYF | FRANKFURT:3EZ) is pleased to announce that it is offering subscribers a non-brokered Private Placement through the issuance of 28,600,000 units (the “Units”) of the Company at a price of C$0.35 per Unit for gross proceeds of C$10,000,000 (the “Offering”). Each Unit consists of one (1) common share of the Company (a “Common Share”) and one half (1/2) of one transferable common share purchase warrant (with two such half warrants being a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one (1) additional Common Share for a period of 2 years from the applicable closing date at a price of C$0.70 per Common Share, subject to an acceleration provision should the Company’s Common Shares trade above C$1.20 for a period of 10 trading days.

Tony Williams, Chairman and CEO of Major Precious Metals commented, “This injection of additional capital together with the ongoing combination of warrants and options being exercised by existing long-term shareholders will serve to continue to finance the extensive drilling and economic evaluation of the Company’s Skaergaard Project in Greenland, as has been well documented and previously announced by the Company.

I am pleased to say that we have already received firm commitments of C$5,000,000 for the Offering from these same long-term shareholders, who we would like to thank wholeheartedly for their commitment and vision as to the value creation that has already occurred over the past 6 months since the Company acquired the Skaergaard Project.

I believe it is important to frame the magnitude of this opportunity. With regards to Skaergaard, the Company is developing a globally significant precious metal deposit (palladium, platinum, and gold) with 5.51 Moz contained PdEq ounces in the Indicated Resource category and 14.4 Moz contained PdEq ounces in the Inferred Resource category, as determined by SLR Consulting (Canada) Ltd. and disclosed in the Company’s news release dated April 23, 2021, and further detailed in the Company’s NI 43-101 technical report filed on SEDAR on May 25, 2021.