Exploits Discovery Corp. (CSE: NFLD | OTCQX: NFLDF | FSE: 634) has announced the completion of its first tranche of a non-brokered private placement for gross proceeds of about C$1.8M.
In connection with the closing, the company issued around 16.3M flow-through shares at a price of C$0.11 each. The proceeds received will be used to incur eligible Canadian exploration expenses that are flow-through mining expenditures as defined in the income tax act of Canada related to the company’s mining projects.
Exploits paid finders fees of about C$108K to eligible finders who assisted in introducing subscribers to the first tranche of the offering. All shares issued are subject to a hold period until 9 March 2024, in accordance with applicable securities legislation and the policies of the Canadian Securities Exchange.
This does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.
Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. The company is focused on discovering high-grade structurally hosted epizonal gold similar to New Found Gold’s success along the Appleton Fault zone and parallel structures within the Exploits Subzone.
Exploits is utilizing its experienced, talented local team, and geologic understanding with the vision to become one of the most successful explorers in Canada.
For further information, please visit: www.exploitsdiscovery.com
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