Business
Carlyle Commodities Announces Closing of Third Tranche of Unit Offering, Shares for Debt and Grant of Options
Vancouver, British Columbia--(Newsfile Corp. - May 15, 2020) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: 1OZ) (OTC Pink: DLRYF) ("Carlyle" or the "Company") is
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - May 15, 2020) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: 1OZ) (OTC Pink: DLRYF) (\"Carlyle\" or the \"Company\") is pleased to announce that, further to its news releases dated March 27, 2020 and April 30, 2020, it has completed the third and final tranche of its non-brokered private placement consisting of the issuance of up to 16,000,000 units (each, a \"Unit\") at a price of $0.075 per Unit for gross aggregate proceeds of up to $1,200,000 (the \"Offering\"), pursuant to which the Company issued 4,532,000 Units for total gross aggregate proceeds of approximately $339,900. The Company has raised total aggregate proceeds of $1,187,024.99 from the closings of the three tranches of the Offering. Each Unit consists of one common share in the capital of the Company (each, a \"Share\") and one Share purchase warrant (each, a \"Warrant\"), with each Warrant entitling the holder thereof to purchase one additional Share (each, a \"Warrant Share\") at a price of $0.20 per Warrant Share for a period of sixty months following issuance. The aggregate proceeds of the Offering will be used for the advancement of the Company's exploration assets and general working capital. An aggregate of $65,304 in cash commissions has been paid to eligible finders in connection with the closings of the first, second and third tranches of the Offering. None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may 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 jurisdiction in which such offer, solicitation or sale would be unlawful. Shares for Debt The Company also announces that it has agreed to issue an aggregate of 932,291 Shares at a deemed price of $0.12 per Share to directors of the Company (the \"Insiders\") as full and final payment of debt in the aggregate amount of $111,875 (the \"Debt Settlement\"), which debt was for certain expenses and unpaid remuneration for services performed by the Insiders. Accordingly, the Debt Settlement constituted a \"related party transaction\" with...