Business
Stone Gold Inc. Announces Closing of $431,199.88 in First Tranche of Non-Brokered Private Placement
TORONTO, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Stone Gold Inc. (TSX-V: STG) ("Stone Gold" or the "Company") is pleased to announce that, in connection with its prev
About this update from Copper Road Resources Inc
[{"type":"text","content":" TORONTO, Dec. 23, 2021 (GLOBE NEWSWIRE) -- Stone Gold Inc. (TSX-V: STG) (\"Stone Gold\" or the \"Company\") is pleased to announce that, in connection with its previously announced non-brokered private placement on December 14, 2021 (the “Offering”), the Company has completed the first tranche (the “First Tranche”), of the Offering. The Offering is comprised of the sale of a combination of flow-through units of the Company (“FT Units”) at a price of $0.12 per FT Unit and hard-dollar units of the Company (“HD Units”) at a price $0.10 per HD Unit (the “Offering”). The First Tranche consisted of the sale of 2,384,999 FT Units and 1,450,000 HD Units for aggregate gross proceeds of $431,199.88. Each FT Unit is comprised of one (1) common share of the Company issued on a flow-through basis within the meaning of the Income Tax Act (Canada) (a “FT Share”), and one-half of one (0.5) common share purchase warrant (each whole warrant, a “FT Warrant”), with each FT Warrant entitling the holder thereof to acquire one (1) additional common share of the Company at a price of $0.20 for a period of twenty-four (24) months following the closing of the applicable tranche of the Offering. Each HD Unit is comprised of one (1) common share of the Company (a “Common Share”), and one (1) common share purchase warrant (a “HD Warrant” and collectively with the FT Warrants, the “Warrants”), with each HD Warrant entitling the holder thereof to acquire one (1) additional Common Share at a price of $0.15 for a period of twenty-four (24) months following the closing of the applicable tranche of the Offering. The Company can elect to accelerate the expiry of the Warrants in the event that the volume-weighted average trading price of the Common Shares on a stock exchange equals or exceeds $0.30 for twenty (20) consecutive trading days, in which case the Warrants will expire thirty (30) days after the date that the Issuer provides written notice of acceleration. The proceeds from the issuance of the FT Units will be used for “Canadian exploration expenses” and will qualify as \"flow-through mining expenditures\" (the \"Qualifying Expenditures\"), as defined in subsection 127(9) of the Income Tax Act (Canada). The Company intends to renounce the Qualifying Expenditures to subscribers of FT Units for the fiscal year ended December 31, 2021. The proceeds from the ...