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Canasil Closes $67,000 Second Tranche for Total $407,000 Non-brokered Private Placement For Drilling Mexican High-Grade Silver-Gold Projects
Canasil Closes $67,000 Second Tranche for Total $407,000 Non-brokered Private Placement Fo...
About this update from Canasil Resources Inc.
[{"type":"text","content":"\n\n\n\nCanasil Closes $67,000 Second Tranche for Total $407,000 Non-brokered Private Placement For Drilling Mexican High-Grade Silver-Gold Projects\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\nCanada NewsWire\nVANCOUVER, March 11, 2020\n\n\n\nTSX-V: CLZ  www.canasil.com \n VANCOUVER, March 11, 2020 /CNW/ - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, \"Canasil\" or the \"Company\") announces closing of the second tranche of 837,500 units for $67,000 (the \"Second Tranche\") of the non-brokered private placement (the \"Placement\") of up to 5,000,000 units (the Units\") at a price of $0.08 per Unit for total gross proceeds of up to $400,000 announced on February 19, 2020. The closing of the Placement is subject to final acceptance by the TSX Venture Exchange. The securities issuable in connection with the private placement are subject to a hold period expiring four months and one day after the date of issuance. A finder's fee of 6% for $3,720 is payable on part of the proceeds of the Second Tranche. \nEach Unit will consist of one common share of the Company and one non-transferable share purchase warrant. Each warrant (a \"Warrant\") will entitle the purchase of one common share of the Company at a price of $0.12 within two years of closing. If, commencing after the fourth month after closing, the closing price of the Company's shares exceeds $0.25 per share for a period of 20 consecutive trading days (the \"Acceleration Trigger Date\"), the Company will have the right to accelerate the expiry date of the Warrants to 30 days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration within three trading days of the Acceleration Trigger Date.\nThe proceeds of the Placement will be used entirely to fund drill programs on the Company's high-grade silver-gold exploration projects in Mexico. \nAbout Canasil:\nCanasil is a Canadian mineral exploration company with a strong portfolio of 100% owned silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico, and in British Columb...