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New Listing: Inflection Resources (CSE:AUCU)

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The company has 3 principal exploration initiatives in Australia, the Northern NSW Projects and Artificial Intelligence Projects in New South Wales and the Carron Gold Project in northern Queensland.

Additional Information:

Company: Inflection Resources
Website: http://www.InflectionResources.com
Stock Symbol: CSE: AUCU
Date Published: Jul 21, 2020
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

Inflection Resources is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “AUCU”, following the completion of its IPO.

The company raised gross proceeds of $3.5 million from the placement of 14 million units priced at $0.25 per unit.

Each unit consisted of 1 share and one-half a warrant, with each full warrant exercisable at $0.40 for 18 months, subject to an acceleration clause.

Haywood Securities acted as agent for the offering.

The shares are trading at $0.47.

Alistair Waddell, President and CEO, stated: "We are happy to have completed the IPO process and are now ready to commence trading and initiate drilling in New South Wales, Australia. The net proceeds from the IPO combined with our pre-IPO working capital totals approximately $4.68 million and will be used to execute our planned drill programs on our Northern NSW Romardo Project in northern New South Wales, Australia and for general working capital."

The company has 3 principal exploration initiatives in Australia, the Northern NSW Projects and Artificial Intelligence Projects in New South Wales and the Carron Gold Project in northern Queensland.

Over the last two years, Inflection has applied for nineteen exploration licenses covering twenty drill-ready projects which are 100% owned by the company.

With the exception of one encouraging drill hole in the Macquarie Project, none of the individual targets have previously been drill tested.

Inflection will complete a first-pass drill program across the 20 targets comprising an initial 38 drill holes which is expected to take several months.

The company is taking a portfolio approach to the drill targets and is realistic in its expectations that not all targets will yield successful results.

The company believes by having 20 separate targets, the odds of identifying a new mineralised system are significantly enhanced and is taking a "drill and kill" type approach to the portfolio, testing as many targets as possible for the least amount of capital.

In Northern Queensland, Inflection is targeting high-grade orogenic gold bearing veins and intrusive related gold systems along strike from the historic Croydon Goldfield.

After reviewing the regional public domain airborne magnetics in the vicinity of Croydon, a series of large north-west trending magnetic anomalies were identified.

The anomalies, which extend over approximately 30 kilometres, lie along structural strike to the northwest from the Croydon Goldfield.

For more information, please visit the company’s website www.InflectionResources.com, contact Alistair Waddell, President and CEO, at 604-681-3170.

I’m Megan Edwards for Investmentpitch Media