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Zonte Metals Closes a $1.2 Million Non-Brokered Private Placement
Zonte Metals Closes a $1.2 Million Non-Brokered Private Placement Canada NewsWire ...
About this update from B2gold Corp.
[{"type":"text","content":"\n\n\n\nZonte Metals Closes a $1.2 Million Non-Brokered Private Placement\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\nCanada NewsWire\nHALIFAX, Nov. 22, 2018\n\n\n\nTSXV: ZON\n HALIFAX, Nov. 22, 2018 /CNW/ - Zonte Metals Inc (TSXV: ZON) (\"Zonte\" or the \"Company\") has closed a $1.2 million financing consisting of 3,624,000 units at a price of $0.25 and 1,126,666 flow through shares at a price of $0.30 (the \"Offering\") for total proceeds of $1,244,000, subject to TSX Venture Exchange (the \"Exchange\") approval. Each Unit will consist of one common share and one-half (½) of one share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at a price of $0.40 for a period of 18 months from the date of issuance. If the closing share price of the common shares on the TSX Venture Exchange is greater than $0.70 per common share for a period of 20 consecutive trading days at any time following the issuance of the Warrants, the Company may accelerate the expiry date of the Warrants by issuing a press release announcing the reduced warrant term whereupon the Warrants will expire on the 30th calendar day after the date of the press release. The securities issued pursuant to the Offering will be subject to a four-month and one day statutory hold period.\nIn connection with the private placement, Zonte will pay finders' fees to Eligible Finders of $78,890 in cash, equal to 7% of the aggregate gross subscription proceeds received from the sale of securities from Eligible Finders; and will issue 301,560 Finders' Warrants, equal to 7% of the number of securities sold in the Offering from Eligible Finders. Each Finders' Warrant is exercisable at any time up to 18 months following its date of issuance to purchase one common share of the Company at an exercise price of $0.38 per share, subject to Exchange approval.  If the closing share price of the common shares on the TSX Venture Exchange is greater than $0.70 per common share for a period of 20 consecutive trading days at any time fo...