09:48:42 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



92 Resources Corp
Symbol NTY
Shares Issued 25,314,923
Close 2016-04-15 C$ 0.095
Market Cap C$ 2,404,918
Recent Sedar Documents

92 Resources closes $103,000 final tranche of placement

2016-04-15 19:22 ET - News Release

Mr. Adrian Lamoureux reports

92 RESOURCES CORP. CLOSES THIRD AND FINAL TRANCHE OF PRIVATE PLACEMENT

Further to the news releases announcing the private placement on Nov. 18, 2015, and March 1, 2016, 92 Resources Corp. has closed the third and final tranche of the private placement in the amount of $103,000. In total, the company raised $318,836 through the sale of 6,376,720 units. The company received final TSX Venture Exchange approval on April 15, 2016.

Upon closing of the third tranche, the company will be issuing 2.19 million units at a price of five cents per unit. Each unit is composed of one common share and one-half of one transferable share purchase warrant. Each whole warrant will permit the warrantholder to acquire one additional common share of the company at a price of 10 cents per warrant share for a period of two years after closing. Finders' fees of $3,200 cash and 64,000 warrants will be payable to Mackie Research Capital Corp.

All securities issued in connection with this offering will be subject to a statutory hold period of four months plus a day from the date of issuance, in accordance with applicable securities legislation.

The company intends to use the net proceeds from the private placement for general working capital and for expenditures on the Hidden Lake lithium property.

We seek Safe Harbor.

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