Vancouver, British Columbia--(Newsfile Corp. - June 29, 2022) - YORK HARBOUR METALS INC. (TSXV: YORK) (OTC Pink: YORKF) (FSE: 5DE0) (the "Company" or "York") is pleased to announce that it has closed the brokered private placement offering (the "Offering"), with a non-brokered portion of the offering (the "Non-Brokered Portion"), for gross proceeds to the Company of approximately $11.46 million, including the partial exercise of the over-allotment option. The Offering was conducted by Research Capital Corporation and Red Cloud Securities Inc. as joint bookrunners, together with Haywood Securities Inc. as co-lead agents, and together with Canaccord Genuity Corp. (collectively, the "Agents"). In connection with the Offering and the Non-Brokered Portion, the Company issued:
a) 2,625,600 units of the Company (the "Units") at a price of $1.00 per Unit. Each Unit consists of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole warrant, a "Warrant");
b) 4,987,228 flow-through units of the Company (the "FTUnits") at a price of $1.20 per FT Unit. Each FT Unit consists of one Common Share that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the "Tax Act") and one-half of one Warrant; and
c) 1,900,000 flow-through units of the Company sold to charitable purchasers (the "CharityFT Units") at a price of $1.50 per Charity FT Unit. Each Charity FT Unit consists of one Common Share that will qualify as "flow-through shares" within the meaning of subsection 66(15) of the Tax Act that will be issued as part of a charity arrangement and one-half of one Warrant.
Each Warrant shall entitle the holder thereof to purchase one Common Share (a "Warrant Share") at an exercise price of $1.50 per Warrant Share at any time up to 24 months following the Closing (as defined herein).