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Mineral Mountain Announces Closing of 2nd Tranche of Non-Brokered Private Placement
Mineral Mountain Announces Closing of 2nd Tranche of Non-Brokered Private Placement ...
About this update from Badlands Resources Inc
[{"type":"text","content":"MineralMtnPvtPlacemen\n \n \n \n Mineral Mountain Announces Closing of 2nd Tranche of Non-Brokered Private Placement\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 \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Oct. 2, 2020\n \n \n \n \n \n \n MMV-TSX-V\n \n \n \n \n \n MNRLF-OTCQB\n \n \n \n \n \n M8M:FRANKFURT\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 2, 2020\n \n /CNW/ - Mineral Mountain Resources Ltd. (\"Mineral Mountain\" or the \"Company\") (TSXV: MMV) is pleased to announce that it has closed the second tranche of this non-brokered unit (\"Unit\") private placement (the \"Private Placement\"). The Company has raised gross proceeds of\n \n C$875,000\n \n to date. A finder's fee of 7% was paid to arm's length third parties in connection with the Private Placement.\n \n \n \n \n \n \n \n \n \n Previously, Mineral Mountain announced to issue up to 4,266,667 units of the Company (the \"Units\") for aggregate proceeds of up to\n \n $1,280,000\n \n .\n \n \n Each Unit consists of one common share of the Company and one common share purchase warrant (a \"Warrant\"), with each warrant entitling the holder to purchase one common share of the Company (a \"Warrant Share\") for a period of one (1) year from closing at an exercise price of\n \n C$0.40\n \n per Warrant Share. All other terms are as described in the initial private placement news release.\n \n \n The Company is also announcing that TSX Venture Exchange has granted the Company an extension on the closing of the private placement until\n \n October 9, 2020\n \n .\n \n \n The net proceeds raised from the Private Placement are intended to be used to fund Company lease renewals in the\n \n Rochford\n \n District, a radiometric airborne survey, drill permitting, new lease acquisitions and, for corporate and general working capital purposes.\n \n \n \n About Mineral Mountain\n \n \n \n Mineral Mountain Resources Ltd., through its wholly owned subsidiary Mineral Mountain Resources (SD) Inc., is an exploration and development Company with a strong management and technical team which has many years of exper...