RE:RE:Sell on NEWS Garibaldi is pleased to report that it has closed a non-brokered private placement for gross proceeds totaling $920,000. Portions of the financing may include a 7% commission in finder's fees.
The Company has issued 4,000,000 flow-through units at 18 cents per unit for gross proceeds of $720,000. Each flow-through unit contains one flow-through and one half of a non-transferable share purchase warrant. Each full warrant is exercisable into one common share in the capital of the Company at a price of 25 cents for a period of two years. The units issued are subject to a 4-month hold period expiring October 7, 2017, on 3,733,332 units and on or about November 19, 2017, on 266,668 units. A commission of 7% ($31,500) was paid on a $450,000 portion of the flow-through as a finder's fee.
In addition, the Company is issuing 1,430,000 non-flow-through units at 14 cents per unit for gross proceeds of $200,200. Each unit comprises one common share in the capital of the Company and one full non-transferable share purchase warrant. Each warrant is exercisable into one common share at a price of 20 cents per share for a period of two years. The units to be issued are subject to a 4-month hold period expiring November 13, 2017, on 1,130,000 units and on or about November 20, 2017, on 300,000 units.