Business
ASTRA EXPLORATION CLOSES $2.4 M PRIVATE PLACEMENT WITH STRATEGIC INVESTMENTS FROM MICHAEL GENTILE, CFA, PETER MARRONE and NEW VENTURES EQUITY FUND, LP
ASTRA EXPLORATION CLOSES $2.4 M PRIVATE PLACEMENT WITH STRATEGIC INVESTMENTS FROM MICHAEL...
About this update from Astra Exploration Inc
[{"type":"text","content":"\n \n \n \n ASTRA EXPLORATION CLOSES $2.4 M PRIVATE PLACEMENT WITH STRATEGIC INVESTMENTS FROM MICHAEL GENTILE, CFA, PETER MARRONE and NEW VENTURES EQUITY FUND, LP\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /Not for dissemination in\n \n the United States\n \n or for distribution to U.S. wire services/\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n June 14, 2022\n \n \n /CNW/ - Astra Exploration Inc. (TSXV: ASTR) (\"Astra\" or the \"Company\") is pleased to announce the Company has closed the non-brokered private placement previously announced on\n \n June 7, 2022\n \n (the \"Offering\") by issuing 12,000,000 units for gross proceeds of CAD\n \n $2.4 million\n \n .\n \n \n \n \n \n \n \n \n \n The Offering consisted of 12,000,000 units (the \"Units\") at\n \n $0.20\n \n per Unit, with each Unit consisting of one common share (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one common share at an exercise price of\n \n $0.26\n \n for a period of 24 months from the date of closing.\n \n \n The Company is very pleased to announce strategic investments from the following parties:\n \n \n \n \n Michael Gentile\n \n , CFA who subscribed for 5,000,000 units of the Offering and now owns 23.75 percent of Astra on a partially diluted basis\n \n \n \n \n \n Peter Marrone\n \n who subscribed for 1,650,000 units of the Offering and now owns 8.5 percent of Astra on a partially diluted basis\n \n \n \n \n New Venture Equities Fund LP, a private equity style investment fund managed by Goodman & Company, Investment Counsel Inc. (\"NVEF\") who subscribed for 2,000,000 units of the Offering and when combined with their shares owned prior to this financing owns 14.5 percent of Astra on a partially diluted basis\n \n \n \n \n In addition, management and insiders of Astra subscribed for a combined 1,000,000 units of the Offering. Management who owned 26% percent of the company prior to this financing now owns 20.4 percent ...