Damara Announces Flow-Thru and Non-Flow Financing for up to $600,000

About this update from Bronco Resources Corp.

[{"type":"text","content":"Damara Announces Flow-Thru and Non-Flow Financing for up to $600,000\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n TheNewswire -\n \n \n June 1, 2021 -\n \n \n DAMARA GOLD CORP. (TSXV:DMR) (“\n \n \n Damara\n \n \n ” or the\n“\n \n \n Company\n \n \n ”),\n \n \n it\n \n \n will\nconduct a non-brokered private placement (the “\n \n \n Offering\n \n \n ”) for\ngross proceeds of up to $600,000.\n \n \n \n \n The Offering will consist of a combination of (i) up to\n3,333,333 units of the Company issued on a flow-through basis (the\n“\n \n \n FT Units\n \n \n ”) at a price of $0.09 per FT Unit for gross proceeds of up\nto $300,000 (the “\n \n \n FT\nProceeds\n \n \n ”) and (ii), up to 3,750,000 units of\nthe Company issued on a non-flow-through basis (the “\n \n \n NFT Units\n \n \n ”) at a\nprice of $0.08 for gross proceeds of up to $300,000 (the\n“\n \n \n NFT Proceeds\n \n \n ”).\n \n \n \n \n Each\n \n \n FT\n \n \n Unit will consist of one common share in the capital of the\nCompany (a “\n \n \n Common\nShare\n \n \n ”) issued on a flow-through basis under\nthe\n \n \n Income Tax\nAct\n \n \n (Canada) (the “\n \n \n Tax Act\n \n \n ”) and\none-half of one Common Share purchase warrant (each whole warrant a\n”\n \n \n Warrant\n \n \n ”). Each Warrant will entitle the holder thereof to\npurchase one non-flow-through Common Share at an exercise price of\n$0.15 for a period of 24 months from the date of issuance.\n \n \n \n \n Each NFT unit will consist of one\nCommon Share in the capital of the Company and a Warrant as described\nabove.\n \n \n \n \n The Offering remains subject to the approval of the TSX\nVenture Exchange.\n \n \n The FT Proceeds will be used\nby the Company to incur eligible Canadian exploration expenses that\nwill qualify as flow-through mining expenditures as such terms are\ndefined in the Tax Act related to advance the Company’s Placer\nMountain Gold Project in British Columbia. All qualifying expenditures\nwill be renounced in favour of the subscribers of the FT Units\neffective Dec. 31, 2021.\n \n \n The NFT Proceeds will\nbe used by the Company for exploration expenditures as well as for\ngeneral working capital and administrative purposes.\n \n \n \n \n The Co...

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