Business
Carlyle Commodities Announces Flow-Through Unit Offering and Closing of $200,000 Initial Tranche
Vancouver, British Columbia--(Newsfile Corp. - December 28, 2022) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: BJ4) (OTC Pink: DLRYF) ("Carlyle" or the "Company
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 28, 2022) - CARLYLE COMMODITIES CORP. (CSE: CCC) (FSE: BJ4) (OTC Pink: DLRYF) (\"Carlyle\" or the \"Company\") is pleased to announce a non-brokered private placement consisting of the issuance of up to 1,000,000 flow-through-units (each a \"Unit\") of the Company at a price of $0.25 per Unit for gross proceeds of up to $250,000 (the \"Offering\"), pursuant to which it has closed an initial tranche of 800,000 Units for total gross proceeds of $200,000 (the \"First Tranche\"). Each Unit consists of one common share in the capital of the Company issued on a \"flow-through\" basis (each, a \"Flow-Through Share\") pursuant to the Income Tax Act (Canada) (the \"Tax Act\") and one-half of one share purchase warrant (each, a \"Warrant\"), with each full Warrant entitling the holder thereof to purchase one non-flow-through common share in the capital of the Company (each, a \"Warrant Share\") at a price of $0.375 per Warrant Share for a period of eighteen months following the date of issuance (the \"Date of Issue\"). Each Warrant is subject to an acceleration provision providing that, if the closing price for the Company's common shares on the Canadian Securities Exchange (the \"CSE\", or such other exchange on which the common shares may be traded at such time) is equal to or greater than $0.50 for a period of ten (10) consecutive trading days at any time after the Date of Issue, the Company can accelerate the expiry date of the Warrants by disseminating a news release advising the holders of the acceleration and, in such case, the Warrants will expire on the thirtieth day after the date of such notice. The Company intends to use the aggregate proceeds of the Offering for exploration expenditures at the Company's Flagship Newton Project in British Columbia. Finders' fees of $8,600 and 34,400 finder's warrants (each, a \"Finder's Warrant\") have been paid in accordance with the policies of the CSE and applicable securities laws. Each Finder's Warrant entitles the holder thereof to purchase one Share (each, a \"Finder's Warrant Share\") at an exercise price of $0.25 per Finder's Warrant Share for a period of eighteen months following the Date of Issue. All securities issued in connection with the Final Tranche are subject to a statutory hold period expiring four months and one day ...