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MINERAL MOUNTAIN CLOSES FIRST TRANCHE OF $7.9 MILLION FINANCING
MINERAL MOUNTAIN CLOSES FIRST TRANCHE OF $7.9 MILLION FINANCING Canada NewsWire...
About this update from Badlands Resources Inc
[{"type":"text","content":"\n \n \n \n MINERAL MOUNTAIN CLOSES FIRST TRANCHE OF $7.9 MILLION FINANCING\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 \n \n \n VANCOUVER, BC\n \n ,\n \n Aug. 24, 2022\n \n /CNW/ - Mineral Mountain Resources Ltd. (\"\n \n Mineral Mountain\n \n \" or the \"\n \n Company\n \n \") (TSXV: MMV) (OTCQB: MNRLF) (FRANKFURT: M8M) further to its\n \n August 2, 2022\n \n news release, the Company is pleased to announce that it has filed documents with the TSX Venture Exchange (the \"Exchange\") for approval to close the first tranche of its\n \n $0.07\n \n unit financing (the \"Financing\") for aggregate gross proceeds of\n \n $200,190\n \n . Subject to Exchange approval, the Company will now issue 2,859,857 units (\"Units), each Unit consisting of 1 common share and 1 common share purchase warrant, each warrant being exercisable for an additional common share at an exercise price of\n \n $0.15\n \n for a period of 6 months. With Exchange approval cash finder's fees of\n \n $8,119.30\n \n will be paid to an arm's length finder.\n \n \n \n \n \n \n \n \n \n The remainder of the Financing is expected to close in two more tranches: a) the second tranche of\n \n Cdn$400,000\n \n (the \"Second Tranche\") within a few weeks; and b) a third tranche for the remaining\n \n Cdn$7,340,000\n \n (the \"Third Tranche\") upon the Company obtaining shareholder approval at a special meeting of shareholders set for\n \n October 6, 2022\n \n . Shareholder approval will be required for the Third Tranche as a result of the Fund's investment becoming a control block as that term is defined within TSX Venture Exchange policies.\n \n \n Securities issued in connection with the Financing are subject to a four-month hold period, in accordance with applicable securities laws.\n \n \n The proceeds are to be used primarily to fund a 9,000-metre drill program at the Company's largest and most advanced gold projects in the\n \n Rochford\n \n District of\n \n South Dakota\n \n . Preparations for this drill program are currently underway.\n \n \n On Behalf of the Board of D...