Hmmmm Of the 3,201,166 units to be issued at the first closing, 1,272,000 units will each comprise a common share that will qualify as a flow-through share as defined in the Income Tax Act (Canada) and one-half of a common share purchase warrant, representing gross proceeds of $152,640.
Coniagas also announces that it has extended the final closing date of the private placement to Sept. 30, 2024. 3rd extension?
As previously announced, the private placement consists of a maximum of five million units at a price of 12 cents per unit for maximum gross proceeds of $600,000.
Coniagas will use the proceeds from the private placement of the flow-through units for exploration on the Graal property in Quebec, as well as for metallurgical test work, and will use the net proceeds from the private placement of the non-flow-through units for working capital.
So $152k net, minus finance fees, to be used for exploration ++. The majority, for WC. Amazed they still got $0.12/share/unit.