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BUTTE ENERGY INC. ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT AND EARLY WARNING REPORT
BUTTE ENERGY INC. ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT AND EARLY WARNING REPORT ...
About this update from Argenta Silver Corp
[{"type":"text","content":"\n\n\n\n BUTTE ENERGY INC. ANNOUNCES CLOSING OF NON-BROKERED PRIVATE PLACEMENT AND EARLY WARNING REPORT\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n TSXV – BEN.H\n \n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Sept. 20, 2024\n \n\n /CNW/ -\n \n Butte Energy Inc.\n \n (TSXV: BEN.H) (the \"\n \n Company\n \n \") is pleased to announce that, further to its news release of\n \n September 3, 2024\n \n , the Company has closed its over-subscribed non-brokered private placement (the \"\n \n Private Placement\n \n \") for gross proceeds of\n \n $15,270,230\n \n .\n \n\n In closing the Private Placement, the Company issued an aggregate of 101,801,536 common shares (each, a \"Share\") at a price of\n \n $0.15\n \n per Share.  All securities issued in connection with the Private Placement are subject to a four month and one day statutory hold period expiring on\n \n January 21, 2025\n \n .\n \n\n A total of\n \n $135,187.50\n \n in finder's fees were payable by the Company in connection with the Private Placement to Haywood Securities Inc., Canaccord Genuity Corp. and Raymond James Ltd.\n \n\n Proceeds of the financing will be used to fund the previously announced acquisition of the El Quevar silver project (the \"\n \n Project\n \n \") in\n \n Argentina\n \n , further exploration on the Project, and general working capital purposes.\n \n\n\n Related Parties\n \n\n\n Three (3) insiders of the Company participated in the Private Placement and acquired an aggregate of 11,265,000 Shares. The purchases by these insiders constitute \"related party transactions\" within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"\n \n MI 61-101\n \n \"). The issuances are exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as they are distributions of securities for cash and the fair market value of the Shares issued to, and the consideration paid by, the insiders did not exceed 25% of the Company's market capitali...