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Boreal Closes Private Placement and Shares for Debt Transactions
Boreal Closes Private Placement and Shares for Debt Transactions Canada NewsWire ...
About this update from Domestic Metals Corp.
[{"type":"text","content":"\n\n\n\nBoreal Closes Private Placement and Shares for Debt Transactions\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, Aug. 14, 2020\n\n\n\nVANCOUVER, BC, Aug. 14, 2020 /CNW/ - Boreal Metals Corp. (\"Boreal\" or the \"Company\") (TSXV: BMX) is pleased to announce that it has closed its previously announced non-brokered private placement (the \"Private Placement\") with a lead order from Palisades Goldcorp Ltd., and has also closed its previously announced shares for debt transactions (the \"Shares for Debt Transactions\").\n\n \n \n \n \n \n \n\n \nPrivate Placement\nUnder the Private Placement, 47,155,376 units of the Company (\"Units\") were issued at $0.055 per Unit for total gross proceeds to Boreal of $2,593,545.69. Each Unit consists of one common share (a \"Common Share\") and one common share purchase warrant (a \"Warrant\"), with each Warrant being exercisable for one additional Common Share at a price of $0.11 for a period of 24 months from the date of issue. \nAll securities issued under the Private Placement are subject to a statutory hold period ‎expiring four months and one day from the issue date. The TSX Venture Exchange has ‎conditionally approved the Private Placement, subject to customary final filings.     \nIn connection with the Private Placement, the Company paid certain arm's length finders, finders' fees totaling $18,480 and 336,000 Units.   \nThe proceeds of the Private Placement will be used to fund exploration, including drilling activities, at the Company's 100% owned Gumsberg property, and for general working capital purposes, including the payment of management and consulting fees to certain parties. Advancing the Company's 100% owned, 18,300 hectare Gumsberg property remains the Company's primary objective. Boreal intends to continue drilling the Östra Silvberg prospect and plans to expand the 2019 Östra Silvberg South Discovery (News Release July 9, 2019). Drilling at Östra Silvberg by Boreal between 2017 and 2019 returned significant high-...