MINK Ventures Corporation (TSXV: MINK) has closed the second tranche of a non-brokered private placement announced on 21 June 2023. The second tranche raised gross proceeds of C$96,774.84 from the issuance of 293,166 hard dollar units at a price of C$0.15 per HD Unit and the issuance of 293,333 flow-through units at a price of C$0.18 per FT Unit. The total gross proceeds raised from both tranches of the private placement was C$323,509.74.
Each HD Unit consists of one common share of the Company 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 thirty-six months from the date of issuance at an exercise price of C$0.20 for the first eighteen 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 18 months and an exercise price of C$0.25 for the remaining 18 months. The company paid aggregate finder’s fees for both tranches totalling C$17,880.45 in cash and 112,105 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 4 December 2023. The private placement remains subject to obtaining final approval of the TSX Venture Exchange. The FT shares were issued as “flow-through shares” within the meaning of the Income Tax Act.
To read more, please visit www.minkventures.com
To read more news like this, please visit www.theassay.com/news
