- up to 1,406,250 CMETC Flow-Through Units (the “CMETC FT Units”) at a price of
$0.64 per CMETC FT Unit, to raise gross proceeds of up to$900,000 , each CMETC FT Unit consisting of one (1) flow-through common share (“FT Share”) of the Company and one half (1/2) of one transferable non-flow-through common share purchase warrant (each whole common share purchase warrant, a “Warrant”). - up to 2,593,750 Flow-Through Units (the “FT Units,” together with the CMETC FT Units, “Offered Securities”) at a price of
$0.56 per FT Unit, to raise gross proceeds of up to$1,452,500 , each FT Unit consisting of one (1) FT Share and one half (1/2) of one Warrant.
Each Warrant will be exercisable to acquire one additional non-flow-through common share of the Company at a price of
The gross proceeds raised from the issuance of the CMETC FT Units will be used to fund “Canadian exploration expenses” that qualify as “flow-through critical mineral mining expenditures” as such terms are defined in subsection 66.1(6) and subsection 127(9) of the Income Tax Act (
The gross proceeds raised from the issuance of the FT Units will be used to fund “Canadian exploration expenses” within the meaning of subsection 66.1(6) Income Tax Act (
The Company plans to use the proceeds from the Offering to conduct exploration work across a number of projects in 2024 and 2025. Exploration will be conducted on projects with demonstrated potential for critical metals and/or precious metals.
The Offering is expected to close on or about
ON BEHALF OF THE BOARD
Daithi Mac Gearailt
President and Chief Executive Officer
Neither the
Telephone: | 604 681 1820 |
Facsimile: | 604 681 1864 |
https://www.TrailbreakerResources.com | |
https://twitter.com/TrailbreakerLtd. |
Source:
2024 GlobeNewswire, Inc., source