RE:RE:RE:RE:RE:RE:Insider buying last week It seems like they closed the latest private placement at 10 cents. They didn't get the $400,000 they planned on but $320,000 is not bad. Maybe the fact that they didn't get the full $400,000 caused small negativity and some holders sold off recently to 5.5 to 6 cents. It still doesn't make sense to sell before the results of holes 2,3, and 4 are released. Anyway, if you believe in the company it's a good time to pick up some cheap shares and average down.
2023-12-29 20:12 ET - News Release
Mr. Lawrence Roulston reports
MTB ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT OF FLOW-THROUGH UNITS
MTB Metals Corp. has closed a non-brokered private placement for gross proceeds of $320,000 through the issuance of 3.2 million flow-through units at a price of 10 cents per FT unit.
Each FT Unit consists of one flow-through common share in the capital of the Company (each, an "FT Share") that will qualify as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one common share (a "Warrant Share") for a period of three (3) years from the date of issuance at an exercise price of $0.18 per Warrant Share. In connection with the Offering, the Company issued 224,000 finder's warrants (the "Finder's Warrants") and paid a cash commission of $22,400 to certain arm's length finders, including Qwest Investment Fund Management Ltd and Red Cloud Securities Inc. Each Finder's Warrant entitles the holder thereof, to purchase one additional Warrant Share at a price of $0.18 for a period of three (3) years from the date of issuance.
The Offering remains subject to final acceptance from the TSX Venture Exchange. All securities issued in connection with the Offering are subject to a four-month hold period from the closing dates under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
The Company intends to use the gross proceeds raised from the Offering for exploration and related programs on the Company's mineral properties, primarily the Telegraph porphyry copper-gold project in British Columbia's Golden Triangle.