Nitinat Announces Private Placement

TORONTO, May 07, 2018 (GLOBE NEWSWIRE) -- Nitinat Minerals Corp. (the "Corporation") (TSX.V:NZZ) (Frankfurt:04U1) is pleased to announce that it intends to raise gross proceeds of up to $280,000 through a non-brokered private placement of up to 1,650,000 units (the "Units") of the Corporation at a price of $0.17 per Unit. Each Unit will consist of one (1) common share and one (1) common share purchase warrant ("Warrant"). Each Warrant will entitle the holder to purchase one (1) common share for a period of three (3) years from date of issuance at an exercise price of $0.20 per Warrant.

The non-brokered private placement is subject to all necessary regulatory approvals. The securities being issued in the private placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The Corporation intends to use the net proceeds for general working capital.

The Corporation will not be proceeding with the proposed private placement of common shares as announced in its press release of February 13, 2018.

Corporation contact:

Herb Brugh, President and Director
Tel: 416.216.0964

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Nitinat is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Nitinat cannot assure investors that actual results will be consistent with these forward-looking statements and Nitinat assumes no obligation to update or revise the forward-looking statements contained in this release to reflect actual events or new circumstances.