Business
CULICO METALS INC. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO C$1.6 MILLION
CULICO METALS INC. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO C$1.6 MILLION Cana...
About this update from Culico Metals Inc.
[{"type":"text","content":"\n\n\n\n CULICO METALS INC. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT OF UP TO C$1.6 MILLION\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n\n\n\n TORONTO\n \n\n ,\n \n\n Sept. 11, 2024\n \n\n /CNW/ - Culico Metals Inc. (TSXV: CLCO) (\"\n \n Culico\n \n \", or the \"\n \n Corporation\n \n \"), a TSXV Sandbox issuer, is pleased to announce that it has launched a non-brokered private placement (the \"\n \n Offering\n \n \") of up to 25,000,000 common shares of the Corporation (the \"\n \n Common Shares\n \n \") at a price of\n \n C$0.064\n \n per Common Share for aggregate gross proceeds of up to\n \n C$1.6 million\n \n .\n \n\n The Corporation intends to use the net proceeds of the Offering to pay for due diligence and other costs relating to potential transactions it is considering and for general corporate purposes.\n \n\n The Offering is scheduled to close on or about\n \n September 24, 2024\n \n , or such other date as the Corporation may determine and is subject to satisfaction of certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including that of the TSX Venture Exchange (the \"\n \n TSXV\n \n \"). The Common Shares issued pursuant to the Offering will be subject to a four-month plus one day hold period commencing on the day of the closing of the Offering under applicable Canadian securities laws.\n \n\n Certain officers and directors of the Corporation are expected to subscribe for Common Shares under the Offering on the same terms as arm's length investors. The participation of such directors and officers in the Offering will constitute a \"related party transaction\" for the purposes of Multilateral Instrument 61-101 –\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"\n \n MI 61-101\n \n \"). The Corporation intends to rely on exemptions from the requirements to obtain a formal valu...