Suche
 
Folgen Sie uns auf:

Vertical Closes Fully Subscribed Flow Through Financing

23.12.2021  |  Accesswire

VANCOUVER, December 23, 2021 - Vertical Exploration Inc. (TSXV:VERT) ("Vertical" or "the Company") is pleased to announce that it has closed its previously announced non-brokered private placement, (see Press Release December 21, 2021), of 13,000,001 flow-through units (the "FT Units") at a price of $0.15 per FT Unit (the "FT Offering"), for aggregate gross proceeds of $1,950,000.15.

Each flow-through unit shall be comprised of one common share of the company issued on a flow-through basis and one transferable common share purchase warrant, exercisable for 2 years from the date of closing, to be issued on a non-flow-through basis. Each warrant shall entitle the holder thereof to acquire one common share of VERT at a price of $0.16 for the first 12 months following the closing of the offering and at a price of $0.25 thereafter.The warrants are subject to an acceleration clause, in the event that the trading price of the Shares on the Toronto Stock Exchange, Venture Market (the "TSXV") reaches $0.31 per Share on any single day, the Corporation may, at its option, accelerate the Warrant Expiry Date by delivery of notice to the registered holders (an "Acceleration Notice") thereof and issuing a press release (a "Warrant Acceleration Press Release", and, in such case, the Warrant Expiry Date shall be deemed to be 5:00 p.m. (Vancouver time) on the 30th day following the later of (i) the date on which the Acceleration Notice is sent to warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release. The flow-through shares will qualify as flow-through shares (within the meaning of Subsection 66(15) of the Income Tax Act (Canada) and Section 359.1 of the Taxation Act (Quebec).

Finders' fees of $93,000.01 and 620,000 finder's warrants were paid to an arm's length party. Finder's warrants bear the same terms as the client warrants.

The shares and warrants comprising the units are subject to a 4 month hold period expiring April 24, 2022.

Proceeds raised from the Offering will be used to advance the Company's St. Onge project in Quebec.

Closing of the offering is subject final approval of the TSX Venture Exchange.

ABOUT VERTICAL EXPLORATION

Vertical Exploration's mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company's flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.

ON BEHALF OF THE BOARD

Peter P. Swistak, President

FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Vertical Exploration Inc.



View source version on accesswire.com:
https://www.accesswire.com/679466/Vertical-Closes-Fully-Subscribed-Flow-Through-Financing


Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
Vertical Exploration Inc.
Bergbau
A2JBPM
CA92536L1031
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"