Business
Beyond Minerals Completes Private Placement For Gross Proceeds of $1,085,500
WINNIPEG, MB, Feb. 16, 2023 /CNW/ - Beyond Minerals Inc. (the "Company" or "Beyond Minerals") (CSE: BY) is pleased to announce the completion of a non-brokered
About this update from Beyond Minerals Inc
[{"type":"text","content":" WINNIPEG, MB, Feb. 16, 2023 /CNW/ - Beyond Minerals Inc. (the \"Company\" or \"Beyond Minerals\") (CSE: BY) is pleased to announce the completion of a non-brokered private placement of 5,275,000 common shares in capital of the Company (the \"Shares\") for aggregate gross proceeds of $1,085,500 (the \"Offering\"), consisting of: (i) 3,750,000 Shares at a price of $0.20 per Share, under the offering previously announced by the Corporation on January 24, 2023; and (ii) an oversubscribed tranche of 1,525,000 Shares at a price of $0.22 per Share, for which price protection was obtained from the Canadian Securities Exchange (\"CSE\"). Craig Gibson, President and CEO of Beyond Minerals, commented, \"Following the completion of this offering, we are well financed to explore, and to continue to build, our portfolio of lithium assets and other mineral properties in Northwestern Ontario and Quebec. Our assets are all located within premier, mining-friendly jurisdictions and we look forward to releasing our updated exploration plans in the coming weeks.\" In connection with the Offering, the Company paid certain eligible third parties dealing at arm's length with the Company (the \"Finders\"): (i) cash commissions totalling $27,838.80, representing 6% of the proceeds raised from subscribers introduced to the Company by such Finders; and (ii) an aggregate of 137,040 non-transferable broker warrants (the \"Broker Warrants\"), representing 6% of the number of Shares sold to such subscribers, each exercisable to acquire one common share of the Company for 2 years from the date of issuance at exercise price of $0.25 or $0.27 per share. The Company intends to use the net proceeds of the Offering for acquisitions of lithium assets, for exploration of certain of its properties, and for general corporate and working capital purposes. All securities issued under the Offering are subject to a hold period of four months and one day from their date of issuance. The offered securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in w...