10:12:29 EDT Sat 15 May 2021
Enter Symbol
or Name

Login ID:
Lodge Resources Inc
Symbol LDG
Shares Issued 51,497,770
Close 2020-05-11 C$ 0.47
Recent Sedar Documents

Lodge closes $430,325 final tranche of placement

2020-05-11 21:12 ET - News Release

Mr. Howard Milne reports


Lodge Resources Inc. has completed the second and final closing of its previously announced non-brokered private placement of units at 35 cents per unit. At this final closing, the company issued and sold an aggregate of 1,229,500 units for gross proceeds of $430,325, and together with the first closing, the company issued an aggregate of 4,268,911 units for gross proceeds of $1,494,118.85.

Each unit consists of one common share and one common share purchase warrant of the company. Each warrant is exercisable into an additional share for 12 months at 50 cents per share.

In connection with the second closing of the offering, the company paid a cash finder's fee of $12,355 to eligible finders. Additionally, the company has issued an aggregate of 35,300 common share purchase warrants to the finders. The finders' warrants have the same terms as the warrants issued under the offering, but are non-transferable.

All securities issued in connection with the second closing of the offering are subject to a statutory hold period of four months plus a day in accordance with applicable securities legislation ending on Sept. 12, 2020.

The net proceeds received from the offering will be used for general corporate and working capital purposes.

About Lodge Resources Inc.

The company is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and the United States.

We seek Safe Harbor.

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