Altair Resources arranges $500,000 placement at 0.05¢ 2021-05-26 06:31 ET - News Release
Mr. George Young reports
ALTAIR ANNOUNCES FINANCING
Altair Resources Inc. will conduct a non-brokered private placement financing of up to 10 million units at five cents per unit to raise gross proceeds of $500,000. Each unit will comprise one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional share for a period of two years at a price of 10 cents. Each warrant will be subject to a forced conversion once the shares trade above a weighted average trading price of 25 cents per common share for any 20 consecutive trading days commencing at any time after closing. The expiry date of the warrants will then be 30 days from the date of issue of a news release announcing the forced conversion.
Proceeds from the financing will be used for working capital purposes. A finder's fee may be payable on a portion of this financing. The financing is subject to acceptance of filings with the TSX Venture Exchange.