C.ST
Straightup Resources arranges $1.5-million financing
2022-01-10 20:17 ET - News Release
Mr. Mark Brezer reports
STRAIGHTUP RESOURCES ANNOUNCES $1.5 MILLION DOLLAR FINANCING
Straightup Resources Inc. has arranged a non-brokered private placement of up 7.5 million units at a price of 20 cents per unit for aggregate gross proceeds of up to $1.5-million. Each unit in the private placement consists of one common share and one-half of one transferable common share purchase warrant. Each whole warrant entitles the subscriber to purchase one additional common share of the issuer at a price of 30 cents per warrant share for a period of two years from the closing date. If the common shares trade on the Canadian Securities Exchange at a price of 50 cents or greater per common share for a period of 10 consecutive trading days, the company may accelerate the expiry of the warrants by giving notice to the holders thereof, such that the warrants shall expire on the 31st day after the date of such notice. The company may offer a portion of the private placement on a flow-through basis.
All securities issued will be subject to a four-month hold period from the date of closing of the private placement. Finders' fees may be payable on all, or part, of the private placement and such finders' fees may be paid in shares in lieu of cash.
The net proceeds from the private placement will