Business
CANADIAN SPIRIT RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT
CANADIAN SPIRIT RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT Canada NewsWire ...
About this update from Canadian Spirit Resources Inc.
[{"type":"text","content":"\n \n \n \n CANADIAN SPIRIT RESOURCES INC. ANNOUNCES 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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./\n \n \n \n \n CALGARY, AB\n \n ,\n \n March 2, 2022\n \n /CNW/ -\n \n Canadian Spirit Resources Inc. (\"CSRI\" or the \"Corporation\")\n \n (TSXV: SPI) (OTCBB: CSPUF) is pleased to announce that it is proposing to undertake a non-brokered private placement offering for aggregate gross proceeds of up to $1,050,000 (the \"\n \n Offering\n \n \"). The Offering will be comprised of up to 20,000,000 units of the Corporation (\"\n \n Units\n \n \") at a price of $0.0525 per Unit. The Offering is expected to close by the end of March 2022.\n \n \n Each Unit will consist of one common share in the capital of the Corporation (a \"\n \n Common Share\n \n \") and one Common Share purchase warrant (a \"\n \n Warrant\n \n \"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.08 for a period of two years after closing of the Offering.\n \n \n All the securities issued pursuant to the Offering will be subject to a four-month restricted resale period under Canadian securities laws.\n \n \n The net proceeds of the Offering will be used for various field activities and initiatives, and for general corporate purposes.\n \n \n It is anticipated that the Offering will be a related party transaction under\n \n Multilateral Instrument 61–101 – Protection of Minority Security Holders in Special Transactions\n \n (\"\n \n MI 61-101\n \n \") as Elmag Investments Inc., an insider and control person of the Corporation, has notified the Corporation that it intends to participate in the&#...