Business
Aztec Minerals Announces Closing of C$2.575 Million Non-Brokered LIFE Offering
Vancouver, Canada – July 26, 2024 – TheNewswire – Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) (“Aztec” or the “Company”) announces the closing of its previo
About this update from Aztec Minerals Corp.
[{"type":"text","content":"Vancouver, Canada – July 26, 2024 – TheNewswire – Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) (“Aztec” or the “Company”) announces the closing of its previously announced non-brokered private placement financing, consisting of 14,306,171 units of the Company (“Units”) at a price of C$0.18 per Unit for aggregate gross proceeds of C$2,575,110.78 (the “Offering”). Each Unit consists of one common share in the capital of the Company (a “Share”) and one-half of one Share purchase warrant (each full Share purchase warrant, a “Warrant”). Each whole Warrant entitles the holder thereof to purchase one Share at an exercise price of C$0.25 for twenty-four (24) months following the closing date of the Offering (the “Closing Date”). The Units issued under the Offering were sold to purchasers pursuant to the listed issuer financing exemption (“LIFE Exemption”) under Part 5A of National Instrument 45-106 – Prospectus Exemptions, in all the provinces of Canada, except Quebec. The Units sold under the LIFE Exemption are not subject to resale restrictions pursuant to applicable Canadian securities laws. The Units were also offered to persons in the United States pursuant to exemptions from the registration requirements under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and all applicable U.S. state securities laws, as well as outside Canada and the United States on a basis which does not require the qualification or registration of any of the Company’s securities or require the Company to be subject to any ongoing disclosure requirements under any domestic securities laws. There is an amended and restated offering document related to the Offering dated July 23, 2024, amending and restating offering documents dated July 16, 2024 and July 18, 2024, that can be accessed under the Company’s profile at on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.aztecminerals.com. The Company intends to use the net proceeds of the Offering to fund the Company’s phase I reverse circulation (RC) drill program at the Tombstone Project (including ongoing joint-venture expenses), to fund ongoing expenses at the Cervantes Project and for general working capital and corporate expenses. In connection with the Offering, the Company paid in consideration of the services rendered by finde...