Baselode Announces Closing of First Tranche of Flow-Through Private Placement for Gross Proceeds of C$4.4 Million

Investing News Network

May 11, 2023

Baselode Energy Corp. ( TSXV: FIND ) (OTCQB: BSENF) ("Baselode" or the "Company") is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the "Offering"). Under the first tranche, the Company sold 9,161,811 flow-through units of the Company (the "FT Units") at a price of C$0.48 per FT Unit for gross proceeds to the Company of C$4,397,669 (the "Offering").

Each FT Unit consists of one common share of the Company issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) (each, a " FT Share ") and one half of one common share purchase warrant (each whole warrant, a " Warrant "). Each Warrant will entitle the holder thereof to purchase one common share (each, a " Warrant Share ") at a price of C$0.70 at any time on or before May 11, […]

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