15:01:48 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Finore Mining Inc (2)
Symbol FIN
Shares Issued 29,943,653
Close 2016-12-09 C$ 0.35
Market Cap C$ 10,480,279
Recent Sedar Documents

Finore closes private placement for $1.42-million

2016-12-09 20:58 ET - News Release

Mr. Rav Mlait reports

FINORE MINING CLOSES NON-BROKERED PRIVATE PLACEMENT

Finore Mining Inc. has closed its previously announced non-brokered private placement for gross proceeds of $1,423,997 through the sale of 5,177,379 units. Each unit is composed of one common share at 27.5 cents, and one transferable common share purchase warrant exercisable at 40 cents per common share for a period of 24 months from the date of closing. All warrants are subject to an early acceleration provision, which provides for the mandatory exercise or expiry of the warrants in the event the company's shares close at 55 cents or higher for at least 10 consecutive trading days. In such event, the warrants will accelerate and expire 30 days after the company has given notice of the accelerated conversion to the warrantholders.

All of the securities issued in the private placement will be subject to a securities law hold period of four months and a day. In connection with the private placement, the company paid a cash finder's fee of $26,864 and issued 102,691 broker warrants, which are exercisable at 40 cents per common share for a period of 24 months from the date of closing. The proceeds of the private placement will be used for working capital purposes.

The company also announces that the board of directors of the company has appointed Jackson & Company, chartered accountant, as the company's new auditor, replacing Davidson & Company LLP. The company has filed a notice of change of auditor in respect of this change under its profile on SEDAR.

We seek Safe Harbor.

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