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Mineral Mountain Raises C$875,000 in Non-Brokered Private Placement and C$1,133,875 in Exercise of Warrants for C$2,000,875 in Gross Proceeds
Mineral Mountain Raises C$875,000 in Non-Brokered Private Placement and C$1,133,875 in Ex...
About this update from Badlands Resources Inc
[{"type":"text","content":"MineralMountai-Placem\n \n \n \n Mineral Mountain Raises C$875,000 in Non-Brokered Private Placement and C$1,133,875 in Exercise of Warrants for C$2,000,875 in Gross Proceeds\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Oct. 13, 2020\n \n \n \n \n \n \n MMV-TSX-V\n \n MNRLF-OTCQB\n \n M8M:FRANKFURT\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 13, 2020\n \n /CNW/ - Mineral Mountain Resources Ltd. (\"Mineral Mountain\" or the \"Company\") (TSXV: MMV) is pleased to announce that it has closed the non-brokered unit (\"Unit\") private placement (the \"Private Placement\") announced previously on\n \n August 20, 2020\n \n and has issued 2,916,667 Units at a price of\n \n C$ 0.30\n \n for raised gross proceeds of\n \n C$875,000\n \n . 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 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$0.40\n \n per Warrant Share.\n \n \n In addition, a total of 4,535,500 warrants priced at\n \n C$ 0.25\n \n were exercised for a total of\n \n C$ 1,133,875\n \n for a grand total of\n \n C$2,000,875\n \n in gross proceeds.\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. A more detailed news release outlining the Company's plans for the Rochford Project will be disseminated shortly.\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 experience ...