Mink Ventures Corporation (TSXV: MINK) has closed the first tranche of a non-brokered private placement of up to C$1,000,000.
The first tranche raised gross proceeds of C$226,735 from the issuance of 1,131,166 hard dollar units at a price of C$0.15 per HD Unit and the issuance of 317,000 flow-through units at a price of C$0.18 per FT Unit. Each HD Unit consists of one common share of Mink and one common share purchase warrant.
Each HD Warrant entitles the holder thereof to acquire one common share of the company for a period of 36 months from the date of issuance at an exercise price of C$0.20 for the first 18 months and an exercise price of C$0.25 for the remaining 18 months. Each FT Unit consists of one common share of the company and one common share purchase warrant. Each FT Warrant entitles the holder thereof to acquire one common share of the company for a period of 36 months from the date of issuance at an exercise price of C$0.20 for the first 18 months and an exercise price of C$0.25 for the remaining 18 months. The company paid aggregate finder’s fees totalling C$12,546.45 in cash and 79,205 in finder’s warrants.
Each Finder’s Warrant entitles the holder thereof to acquire one common share of the company for a period of 36 months from the date of issuance at an exercise price of C$0.20 for the first 18 months and an exercise price of C$0.25 for the remaining 18 months.
All finder’s fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies. All securities issued in this closing of the private placement are subject to statutory four month plus a day hold periods expiring on 13 November 2023. The private placement remains subject to obtaining final approval of the TSX Venture Exchange.
To find out more please visit www.minkventures.com
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