Mr. Jean-Sebastien Lavallee reports
CANADA STRATEGIC METALS ANNOUNCES FIRST CLOSING OF $125,000
Canada Strategic Metals Inc. has closed the first tranche of a non-brokered private placement, for an amount of $125,000.
The company has issued 1.25 million units of common shares at a price of 10 cents per unit, for gross proceeds of $125,000. Each unit consists of one common share priced at 10 cents and half of a warrant to purchase a common share of the company. Each warrant entitles its holder to purchase one common share of the company at 15 cents for a 24-month period after the closing of the private placement.
The company paid intermediary fees of $2,000, along with 20,000 compensation options entitling their holders to purchase 20,000 common shares of the company at a price of 15 cents per share for a 24-month period following the closing of the private placement.
All of the securities issued under the private placement are subject to a mandatory hold period of four months plus one day following the closing of the private placement.
The company is pursuing its efforts in order to proceed to a second closing, in the coming weeks, of this private placement for up to $500,000.
The proceeds of this private placement will be used for working capital and for property development.
The private placement is subject to regulatory approval.
© 2024 Canjex Publishing Ltd. All rights reserved.