00:00:01 EDT Tue 16 Jul 2024
Enter Symbol
or Name

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Mosaic Minerals Corp
Symbol MOC
Shares Issued 75,715,571
Close 2023-12-05 C$ 0.065
Market Cap C$ 4,921,512
Recent Sedar Documents

Mosaic Minerals closes $637,000 private placement

2023-12-05 11:08 ET - News Release

Mr. Jonathan Hamel reports


Mosaic Minerals Corp. has closed an oversubscribed private placement, pursuant to which it issued 7,962,500 flow-through units at a price of eight cents per unit, for gross proceeds of $637,000.

Each unit consists of:

  • One flow-through share of the corporation;
  • One-half of a common share warrant.

Each whole warrant can be exercised to purchase one share at a price of 12 cents per share for a period of 18 months ending June 4, 2025. An aggregate number of 3,981,250 warrants have been issued as part of the offering. A 7-per-cent cash commission will be paid to an unrelated third party as an intermediary.

The proceeds will be used for exploration work on the Amanda lithium project and Gaboury nickel project.

Option of 113 North project

The corporation also announces that it has entered into an arm's-length property option agreement as of Nov. 30, 2023, with Lithium Lion Metals Inc., pursuant to which Lithium Lion has the option to acquire a 100-per-cent interest in the 113 North project in exchange for $200,000 in cash, two million ordinary shares of Lithium Lion, and an exploration commitment of $1,325,000 over three years.

The project is formed by 59 mining claims covering approximately 3,107 hectares in Bartouille and Ducros townships in Quebec.

Lithium Lion can exercise its option to acquire a 100-per-cent interest in the project by completing the milestones on or before the dates indicated in the associated table.

About Mosaic Minerals Corp.

Mosaic Minerals is a Canadian mining exploration company listed on the Canadian Securities Exchange, focusing on the exploration of critical minerals such as nickel and lithium in the province of Quebec.

We seek Safe Harbor.

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