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Carolina Rush Announces Closing of Brokered and Non-Brokered Private Placements for Total Gross Proceeds of $2.23 Million
Toronto, Ontario--(Newsfile Corp. - August 15, 2023) - Carolina Rush Corporation (TSXV: RUSH) (...
About this update from Carolina Rush Corporation
[{"type":"text","content":"Carolina Rush Announces Closing of Brokered and Non-Brokered Private Placements for Total Gross Proceeds of $2.23 MillionToronto, Ontario--(Newsfile Corp. - August 15, 2023) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) (\"Carolina Rush\" or the \"Company\") is pleased to announce that it has closed a \"best efforts\" brokered private placement (the \"Brokered Offering\") with Paradigm Capital Inc. (the \"Agent\"), acting as agent, through the issuance of 666,700 units (each, a \"Unit\") of the Company at a price of $0.15 per Unit for gross proceeds of $100,005. In addition, the Company has closed the concurrent non-brokered private placement (the \"Non-Brokered Offering\" and together with the Brokered Offering, the \"Offering\") through the issuance of 14,238,236 Unit at a price of $0.15 per Unit for gross proceeds of $2,135,735.40.Each Unit consists of one common share in the capital of the Company (each, a \"Common Share\") and one half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Common Share at an exercise price of $0.20 per Common Share until the date that is thirty-six (36) months from the date of issuance.The net proceeds raised under the Offering will be used for the exploration and advancement of the Company's projects in the Southeastern U.S., including drilling priority targets at the flagship Brewer Gold-Copper Project, advancing projects on the Sawyer Gold Trend, updating technical studies, and for general corporate and working capital purposes and payment of debt. The Common Shares and Warrants issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.In connection with the closing of the Brokered Offering, the Company paid the Agent a cash commission totaling $6,000.30, through the issuance of 40,002 Units and have issued the Agent 66,670 non-transferrable compensation warrants (each, a \"Broker Warrant\"). Each Broker Warrant entitles the Agent to purchase one Common Share at a price of $0.15 at any time for a term of two (2) years following the date of issuance. In connection with the closing of the Non-Brokered Offering, the Company paid certain eligible finders (each, a \"Finder\") cash commissions ...