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Bullboard - Stock Discussion Forum Slam Exploration Ltd V.SXL

Alternate Symbol(s):  SLMXF

SLAM Exploration Ltd. is a Canadian junior resource company holding a portfolio of gold and base metal projects. The Company is engaged in the acquisition, exploration and development of exploration and evaluation properties in New Brunswick, Nova Scotia, and Ontario, Canada. The Company's projects include Mine Road Project, Menneval Gold Project, Ear Falls Lithium Project, Jake Lee Gold... see more

TSXV:SXL - Post Discussion

Slam Exploration Ltd > Expensive financing, Mikey...???
View:
Post by Magnum2 on Jan 18, 2022 7:34pm

Expensive financing, Mikey...???

SLAM Closes Private Placement to Raise $293,000

V.SXL 

Not for Distribution to U.S. Newswire Services or for Dissemination in the United States

MIRAMICHI, New Brunswick, Jan. 17, 2022 (GLOBE NEWSWIRE) -- SLAM Exploration Ltd. (TSXV: SXL) (the “Company” or “SLAM”) announces that it has closed a private placement and it has issued 5,327,272 flow-through units (the “FT Units”) at a price of $0.055 per FT Unit for gross proceeds of $292,999.96 (the “Private Placement”). Each FT Unit is comprised of one common share in the capital of the Company issued on a “flow-through” basis and one-half of one common share purchase warrant issued on a non-flow-through basis (with two half common share purchase warrants being a “Warrant”). Each Warrant will entitle the holder thereof to acquire one non-flow-through common share at a price of $0.10 for a period of 24 months from the date of closing. The FT Units are subject to a four-month and one day hold period that expires on May 1, 2022.
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The Company has paid $31,200 cash and issued 231,364 non-flow-through units (“NFT Units”) with each NFT Unit

SXL Paid $31,200 in cash + another $11,568.20 in units just to raise $293K...So net they raised a big whopping $260K and diluted by over 10%...BRUTAL.
DYODD

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