Business
Spey Resources Announces Closing Of Private Placement
Vancouver, British Columbia, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) ("Spey” or the "Company") is pleased to
About this update from Armory Mining Corp.
[{"type":"text","content":" Vancouver, British Columbia, Sept. 16, 2022 (GLOBE NEWSWIRE) -- Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) (\"Spey” or the \"Company\") is pleased to announce, further to its news release dated September 7, 2022, that it has closed its non-brokered private placement (the “Offering”), having issued 22,141,496 units (each a “Unit”) at a price of $0.175 per Unit, for gross proceeds of $3,874,761.80. Each Unit is comprised of one common share of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant entitling the holder to acquire one Share at a price of $0.35 until September 16, 2024, provided that if the volume weighted average trading price of the Shares on the Canadian Securities Exchange (“CSE”) is at a price greater than $0.70 for 10 consecutive trading days, then the expiry date of the Warrants shall automatically accelerate to the date that is 30 days after the date that notice of such acceleration is provided to the Warrant holders. In connection with the Offering, the Company also paid finders fees in the aggregate of $145,580.75 in cash and 760,490 non-transferable broker warrants (a “Broker Warrant”). Each Broker Warrant is exercisable into one Share at an exercise price of $0.35 until September 16, 2024, provided that if the volume weighted average trading price of the Shares on the CSE is at a price greater than $0.70 for 10 consecutive trading days, then the expiry date of the Warrants shall automatically accelerate to the date that is 30 days after the date that notice of such acceleration is provided to the Broker Warrant holders. The Company intends to use the net proceeds raised from the Offering for funding the drilling of its projects, property payments and general working capital. All securities issued in the Offering are subject to a statutory four month hold period in accordance with the policies of the CSE and applicable securities laws. None of the securities to be issued in the Offering have been or will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. About Spey Resources Corp. Spey Resources is a Canadian mineral exploration com...