Business
Carolina Rush Announces Closing of Private Placement
Toronto, Ontario--(Newsfile Corp. - December 4, 2025) - Carolina Rush Corporation  (TSXV: R...
About this update from Carolina Rush Corporation
[{"type":"text","content":"Carolina Rush Announces Closing of Private PlacementToronto, Ontario--(Newsfile Corp. - December 4, 2025) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) (\"Carolina Rush\" or the \"Company\") announces that, further to its press releases of November 3, 2025 and November 27, 2025, it has completed a non-brokered private placement offering (the \"Offering\") through the issuance of 31,799,360 units (each, a \"Unit\") in the capital of the Company at a price of C$0.11 per Unit for gross proceeds of $3,497,929.66.Each Unit was comprised of one common share (a \"Common Share\") in the capital of the Company 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 a price of C$0.16 for a period of two years following the date of issuance. Gross proceeds raised from the Offering will be used for general working capital purposes. All securities issued in connection with the Offering are 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 Offering, the Company paid certain eligible finders cash commissions in the aggregate of $7,821 and issued 71,100 broker warrants (each, a \"Broker Warrant\"). Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of $0.16 per Common Share for a period of two (2) years from the date of issuance.The Offering constituted a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") as an insider of the Company acquired 3,845,454 Units pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the Company is not listed on a specified market and the fair market value of the participation in the Offering by the insider does not exceed 25% of the market capitalization of the Company in accordance with MI 61-101. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the of the Offering, which ...