Business
Carolina Rush Announces Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - June 19, 2023) - Carolina Rush Corporation (TSXV: RUSH) (OT...
About this update from Carolina Rush Corporation
[{"type":"text","content":"Carolina Rush Announces Non-Brokered Private PlacementToronto, Ontario--(Newsfile Corp. - June 19, 2023) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) (\"Carolina Rush\" or the \"Company\") announces a non-brokered private placement offering of a minimum of 13,333,334 units in the capital of the Company (each, a \"Unit\") to a maximum of up to 20,000,000 Units at a price of $0.15 per Unit for gross proceeds of a minimum of $2,000,000 up to a maximum of $3,000,000 (the \"Offering\").Carolina Rush Senior Technical Advisor Keith Laskowki, MSc, QP, stated: \"Over the last year the Technical Team has put together all of the available exploration data and prepared high quality drill targets at Brewer. The targets are lined up and ready for drilling with permits in place. Drilling at Brewer will follow up the encouraging results identified during the last round of drilling (ie. B21C-5: 181.6 m @ 1.24 g/t Au and 0.27 % Cu from 56.0m - see news release dated April 21, 2021) and will work towards establishing our maiden Mineral Resource Estimate on this exciting diatreme breccia/porphyry target.\"Each Unit will consist of one common share in the capital of the Company (each, a \"Common Share\") and one half of one whole Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant shall entitle 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 Brewer gold-copper project, advancing the Sawyer gold project, for general corporate and working capital purposes and payment of debt.The Offering is scheduled to close on or about July 13, 2023 and is subject to certain conditions including, but not limited to the receipt of all necessary regulatory and other approvals including the TSX Venture Exchange and the applicable securities regulatory authorities. All securities issued under the Offering will be subject to a four-month and one day statutory hold period.The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent regis...