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CONTACT GOLD Announces up to $1 Million Non-Brokered Private Placement Financing
(TheNewswire) Vancouver, B.C. - TheNewswire - (June 21, 2022) &#x...
About this update from Commodore Metals Corp.
[{"type":"text","content":"CONTACT GOLD Announces up to $1 Million Non-Brokered Private Placement Financing\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. -\n \n \n TheNewswire -\n \n \n (June 21, 2022) –\n \n \n Contact Gold Corp. (the “Company” or\n“Contact Gold”) (TSXV:C\n \n \n )\n \n \n ;\n \n \n (\n \n \n OTC:CGOLF)\n \n \n is pleased to announce a\nnon-brokered private placement (the \"Offering\") of up to\n20,000,000 units (“Units”) at a price of $0.05 per Unit (the\n“Offering Price”) for gross proceeds of up to $1,000,000.\n \n \n \n \n Each Unit will consist of one common share of the\nCompany (a “Common Share”) and one half of one Common Share\npurchase warrant (each whole Common Share purchase warrant, a\n“Warrant”), with each Warrant entitling the holder to purchase an\nadditional Common Share at a price of $0.075\n \n \n per\nshare for a period of 24 months from the closing date (the “Expiry\nDate”).\n \n \n \n \n The net proceeds of the Offering are expected to be\nused to undertake further drilling at Contact Gold’s Green Springs\ngold project & continued exploration at the resource stage Pony\nCreek gold project, each located in Nevada, and for general working\ncapital purposes.\n \n \n \n \n The securities issued pursuant to the Offering will be\nsubject to a four month\n \n \n \n \n and one day statutory\n \n \n hold period in\nCanada. Completion of the Offering is subject to the receipt of all\nnecessary approvals, including the conditional approval of the TSX\nVenture Exchange (the “TSXV”) .\n \n \n \n \n Certain persons may be eligible to receive finder fees,\npayable in cash, representing up to 6% of the proceeds placed by such\nfinders, in connection with the Offering. In addition, the Company may\nalso issue to certain finders such number of compensation warrants\n(the “Broker Warrants”) as is equal to 6% of the number of Units\nsold pursuant to the Offering, at an exercise price of $0.075 for a\nperiod of 24 months following the closing of the Offering.\n \n \n \n \n Closing of the Offering is expected to occur on or\nabout July 27, 2022, and remains subject to the final approval of the\nTSXV.\n \n \n \n \n The offered securities have not been, nor will they be,\...