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Mathematics at play Approximately 101,7732,364.........if you add it all up..... As at January 31, 2016, 73,507,199 shares are issued During the second closing, in February 2016, the Corporation issued a total of 8,040,000 common shares and flow through shares at a price of $0.10 and 4,020,000 share purchase warrants that can be exercised at a price of $0.15 for a period of 24 months. This placement represents gross proceeds of $804,000, out of which $347,000 will have to be incurred as exploration and evaluation expenses on its Canadian mining properties. The Corporation paid a total amount of $34,560 and issued 345,600 options to Finders, which can be exercised at a price of $0.10 until February 19, 2018.
In March 2016, the Corporation granted 2,700,000 stock options to officers, directors and consultants of the Corporation.
In February and March 2016, the Corporation issued 4,932,500 common shares following the exercise of share purchase warrants, 682,500 common shares following the exercise of stock options, 1,342,898 common shares following the exercise of broker and intermediaries options and 10,816,667 common shares upon the conversion of debentures.
In February 2016, the Corporation has entered into a Memorandum of Understanding with the first nations Matachewan and Mattagami (the “first nations”) pertaining to the exploration of the Kidd Township property. In connection with this agreement, the Corporation will issue a total of 1,000,000 common shares to the first nations. The Corporation will pay 2% of all direct exploration costs incurred on the Kidd Township property after the signature date of the agreement with the first nations.
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