is pleased to announce the closing of its previously announced bought deal private placement (the " Offering ") for gross proceeds of C$8,500,000, which includes the proceeds from the full exercise of the underwriters’ over-allotment option. Due to significant demand, the Offering was upsized from the original gross proceeds of C$6.0 million. Under the Offering, the Company sold 2,222,222 flow-through units of the Company (each, a " FT Unit ") at a price of C$0.90 per FT Unit and 6,500,000 FT Units that were sold to charitable purchasers (each, a " Charity FT Unit ") at a price of C$1.00 per Charity FT Unit. Red Cloud Securities Inc., as lead underwriter and sole bookrunner, with Research Capital Corp. acted as underwriters (the " Underwriters ") for the Offering.
Each FT Unit and Charity FT Unit consists of one common share of the Company issued as a "flow-through share" within the […]
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