Business
Canasil Receives Final Acceptance for $407,000 Non-brokered Private Placement
Canasil Receives Final Acceptance for $407,000 Non-brokered Private Placement Cana...
About this update from Canasil Resources Inc.
[{"type":"text","content":"\n\n\n\nCanasil Receives Final Acceptance for $407,000 Non-brokered Private Placement\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 24, 2020\n\n\n\nTSX-V: CLZ  www.canasil.com\n VANCOUVER, March 24, 2020 /CNW/ - Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, \"Canasil\" or the \"Company\") announces that the TSX Venture Exchange has accepted for filing documentation with respect to the non-brokered private placement of 5,085,000 units (the Units\") at a price of $0.08 per Unit for total gross proceeds of $407,000 announced on February 19, 2020. 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: July 6, 2020, for the first tranche closed on March 5, 2020, and July 12, 2020, for the second tranche closed on March 11, 2020. A finder's fee of 6% for $3,720 was paid on part of the proceeds of the second tranche. \n\n \n \n\n\n\n\n\n\n\n \nEach Unit consists 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.\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 Columbia, Canada. The Company's directors and management include industry professionals with a track record of identifying and advancing successful mineral exploration projects through to discove...