Post by
lifegoeson on Jun 15, 2022 8:52am
TOC Fianancing.... perfect....
This financing sure gets me excited. They closed $199,670 privately and have a binding term sheet for $5,125,000.00. This should be plenty of money to get the drills turning at both Pilar and Picacho, pay for corporate things like the copper spinout, and Investor Relations activity. Also the potential for another $5M to come in if warrants are accelerated. I think this play was just now substantially de-risked.
".... closed a non-brokered private placement of 243,500 units (the " Units ") at CAD $0.82 per Unit, for gross proceeds of $199,670 (CAD) (the " Offering "). Each Unit is comprised of one common share of the Company (a " Share ") and one common share purchase warrant (a " Warrant "). Each Warrant will entitle the holder to acquire one additional Share in the capital of the Company at a price of CAD $1.40 for a period of 24 months from the date the Units are issued...."