") is pleased to announce, due to strong investor demand, a slight increase of 2 million additional units to its current non-brokered private placement offering, whereby the first increase was announced on December 17, 2024. . As a result of this increase, the the Company expects to close its current offering with the issuance of 17 million units . Each whole Warrant will entitle the holder to acquire an additional Common Share at an exercise price of $0.
The Company anticipates closing the Offering on December 24, 2024. All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day in accordance with applicable securities laws. The Company previously closed a tranche with similar terms and conditions on November 28, 2024 for gross proceeds of $496,000 by way of issuance of 8,266,667 Units.
The Company may pay a cash commission of up to 8% of the gross proceeds raised in the Offering to eligible finders, agents, or brokers. In addition, the Company may issue compensation shares equal to 4% of the number of Common Shares issued at a deemed price of $0.06 per Common Share, and finder's warrants exercisable for 60 months at an exercise price of $0.10, representing 4% of the aggregate number of Units issued.
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Company Announces Closing of Non-Brokered Flow-Through Private PlacementThe company has closed its non-brokered flow-through private placement, issuing FT units consisting of common shares and warrants. Proceeds will be used for general corporate purposes. One insider participated in the placement, which was exempt from certain MI 61-101 requirements.
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Company Completes First Tranche of Non-Brokered Private PlacementA company announces the successful completion of the first tranche of its non-brokered private placement, raising $1,315,039 through the issuance of 4,383,462 units.
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Company Announces Second Tranche Closing of Non-brokered Private PlacementThe company announced a second tranche closing of its non-brokered private placement, raising $85,000 at a price of $0.05 per unit. Each unit consists of one common share and a warrant. The warrants include an acceleration clause tied to the daily volume weighted average closing price of the common shares on the Canadian Securities Exchange.
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