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Sentinel Resources Announces DTC Eligibility and Private Placement Financing of $1,000,000
VANCOUVER, BC, Oct. 8, 2020 /CNW/ - Sentinel Resources Corp. (CSE: SNL) (OTC-PINK: SNLRF) ("Sentinel" or the "Company") is pleased to announce that its common s
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[{"type":"text","content":" VANCOUVER, BC, Oct. 8, 2020 /CNW/ - Sentinel Resources Corp. (CSE: SNL) (OTC-PINK: SNLRF) (\"Sentinel\" or the \"Company\") is pleased to announce that its common shares are now eligible for electronic clearing and settlement through the Depository Trust Company (\"DTC\") in the United States. DTC is a subsidiary of the Depository Trust & Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through DTC are considered to be \"DTC eligible\". DTC eligibility is expected to simplify the process of trading and enhance liquidity of the Company's common shares in the United States. \"The ability to have the Company's shares electronically transferred between brokerages in the United States is significantly more convenient and reduces the costs incurred in trading shares,\" said Rob Gamley, President & CEO of Sentinel. \"With the Company's shares now traded electronically, existing investors benefit from greater liquidity and execution speeds, while we've also opened the door to new investors that may have been previously restricted from our stock.\" The Company's common shares are listed for trading on the OTC, a U.S. based securities trading system, under the symbol \"SNLRF\". The Company's shares will continue to be traded on the Canadian Securities Exchange (\"CSE\") under its existing symbol \"SNL\". Private Placement Financing Sentinel is also pleased to announce a non-brokered private placement financing of 2,000,000 units at a price of $0.50 per Unit for total proceeds of $1,000,000 (the \"Offering\"). Each Unit under the Offering will consist of one common share and one share purchase warrant (each a \"Warrant\"), with each Warrant entitling the holder to purchase one additional share at a price of $1.00 per share for a period of one year from the date of issue. Sentinel has the right to accelerate the expiry date of the Warrants if, at any time, the average closing price of the Company's common shares is equal to or greater than $1.25 for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 10 business days after the Company issues a news release announcing that it has elected to exercise this acceleration right. T...