Business
Spearmint Resources Now Funded to Commence Operations on Multiple Projects
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2020) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company") has closed
About this update from Adelayde Exploration Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 28, 2020) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the \"Company\") has closed its non-brokered private placement for gross proceeds of $699,790. James Nelson, President of Spearmint states, \"We are pleased to have closed this financing as it will now allow us to aggressively move forward on multiple projects in our portfolio. We wish to thank our shareholders for their continued support on our shared vision for Spearmint. A work program is currently underway on our Hammernose gold property, and we are now funded to start a drill program on our Clayton Valley lithium project as well as work on our Perron East project in the vicinity of Amex Exploration. Gold prices are at all-time highs and most commodities continuing their uptrends at a time when we will be incredibly active on our gold projects and a number of other projects, giving Spearmint shareholders multiple shots on goal for success. We expect August to be one of, if not the busiest month in Company history, at a time when the junior mining market is enjoying a significant resurgence.\" Spearmint has closed it's financing consisting of 3,557,142 flow-through units (the \"FT Units\") for gross proceeds of $124,500, as well as 19,176,332 non flow-through units (the \"NFT Units\") for gross proceeds of $575,290. Each FT Unit consists of one flow-through common share and one non flow-through transferrable share purchase warrant (a \"FT Warrant\"). Each FT Warrant will entitle the holder to purchase one non flow-through common share at a price of $0.05 until July 29, 2025. Each NFT Unit consists of one common share and one transferrable share purchase warrant (a \"NFT Warrant\"). Each NFT Warrant is exercisable to purchase an additional common share at a price of $0.05 until July 29, 2025. An aggregate finders' fee of $33,743 and 918,106 Broker Warrants have been paid in connection with the private placement. The Broker Warrants are each exercisable at five cents per share until July 29, 2025. All the securities issued in connection with this private placement have a hold period that expires on November 30, 2020. Proceeds will be used toward the Company's general working capital and work programs on existing projects. About Spearmint Resources Spearmint's current projects include the '...