12:23:21 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Warrior Gold Inc
Symbol WAR
Shares Issued 44,290,552
Close 2019-02-20 C$ 0.075
Market Cap C$ 3,321,791
Recent Sedar Documents

Warrior Gold closes first tranche of financing

2019-02-21 09:04 ET - News Release

Ms. Daniele Spethmann reports

WARRIOR GOLD ANNOUNCES INITIAL CLOSING OF PRIVATE PLACEMENT FINANCINGS

Warrior Gold Inc. has closed the first tranche of its previously announced non-brokered private placement offerings of units, each unit priced at seven cents and comprising one common share and one-half common share purchase warrant and flow-through shares priced at 10 cents. Under the first tranche closing, the company has raised $310,755 through the issuance of 3,839,356 units and 420,000 flow-through shares. Each whole warrant entitles the holder thereof to purchase one common share at an exercise price of 15 cents for a period of 12 months from the date of the first tranche closing, provided that, if at any time following the expiry of the four-month hold period the closing price of the shares is greater than 30 cents for 20 or more consecutive trading days, the company may give notice to the warrantholders that the expiry date of the warrants will be accelerated and that the warrants will expire on the 30th business day following the date of notice.

The company paid finders' fees of $11,560.40 and issued 65,431 broker warrants which have the same terms as the financing warrants.

The securities issued to this first closing are subject to a hold period of four months and a day from the date of closing. The private placement is subject to final approval by the TSX Venture Exchange.

The net proceeds from the unit offering will be used for exploration and general corporate purposes and the gross proceeds from the flow-through share offering will be used for Canadian exploration expenses and will qualify as flow-through mining expenditures, as defined in the Income Tax Act (Canada).

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