") announces that it has closed the third tranche of its previously announced non-brokered private placement by issuing 6,666,660 Quebec flow-through units at $0.045 per FT Unit for gross proceeds of $299,999.70 and 2,286,442 non-flow-through units at $0.035 per NFT Unit for gross proceeds of $80,025.50 for aggregate gross proceeds of $380,025.20 .
Each QFT Unit consists of one common share of the Company issued as a"flow-through share" and one half of one common share purchase warrant . Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.08 per Warrant Share for a period of two years. In connection with the Third Tranche, the Company paid finder's fees consisting of $20,999.98 cash and 465,666 finder's warrants . Each Finder's Warrant entitles the holder thereof to acquire one Warrant Share at an exercise price of $0.08 per Warrant Share for a period of two years.
This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
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Company Closes First Tranche of Private PlacementThe Company successfully closed the first tranche of its private placement, raising $97,800. The funds will be used to develop mineral property interests in Argentina and for general working capital.
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