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Delrey Metals Announces Flow-Through and Non-Flow Through Private Placement
Vancouver, British Columbia--(Newsfile Corp. - July 29, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE:1OZ) (OTC Pink: DLRYF) (“Delrey” or the “Company”) is pleas
About this update from Carlyle Commodities Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 29, 2019) - DELREY METALS CORP. (CSE: DLRY) (FSE:1OZ) (OTC Pink: DLRYF) (“Delrey” or the “Company”) is pleased to announce a non-brokered private placement consisting of the issuance of: (i) up to 11,000,000 flow-through units (each, an “FT Unit”) at a price of $0.1001 per FT Unit for gross proceeds of up to $1,100,000 (the “FT Offering”), and (ii) up to 5,000,000 non-flow-through units (each, an “NFT Unit” and, together with the FT Units, the “Units”) at a price of $0.08 per NFT Unit for gross proceeds of up to $400,000 (the “NFT Offering” and, together with the FT Offering, the “Offering”). Each FT Unit will consist of one common share in the capital of the Company to be issued on a \"flow-through\" basis (each, a \"FT Share\") pursuant to the Income Tax Act (Canada) (the \"Tax Act\") at a price of $0.10 per FT Share and one-half of one common share purchase warrant (each, an \"FT Warrant\"), with each FT Warrant entitling the holder to purchase one additional non-flow-through common share (each, a \"Warrant Share\") at a price of $0.25 per Warrant Share for a period of eighteen months following the closing of the Offering (the \"Closing\"). Each NFT Unit will consist of one common share in the capital of the Company to be issued on a \"non-flow-through\" basis (each, an \"NFT Share\") at a price of $0.08 per NFT Share and one-half of one common share purchase warrant (each, an \"NFT Warrant\"), with each FT Warrant entitling the holder to purchase one additional Warrant Share at a price of $0.25 per Warrant Share for a period of eighteen months following the Closing. All securities issued pursuant to the Offering will be eligible for sale in each of the provinces of Canada. The aggregate proceeds of the FT Offering will be used by the Company to incur exploration expenditures on the Company's properties. Such expenditures will constitute \"Canadian Exploration Expenses\" (as defined in the Tax Act) which will be renounced to purchasers for the taxation year ending December 31, 2019. The aggregate proceeds of the NFT Offering will be used by the Company for exploration expenditures on the Company's properties as well as for general working capital purposes. Finders' fees may be payable in connection with the Offering in accordance with the policies of the Canadian Securities...