Business
Exploits Discovery Corp. Closes Final Tranche Of It's $4 Million Private Placement
Vancouver, British Columbia - TheNewswire – March 30, 2021 - Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE:NFLD) (OTCQB:NFLDF) (FSE:634-FF) (CNSX:
About this update from Epic Gold Corp.
[{"type":"text","content":"Vancouver, British Columbia - TheNewswire – March 30, 2021 - Exploits Discovery Corp. (“Exploits” or the “Company”) (CSE:NFLD) (OTCQB:NFLDF) (FSE:634-FF) (CNSX:NFLD.CN) is pleased to announce that it has closed the final tranche of its non-brokered private placement previously announced on February 25th, 26th and March 15, 2021 (the “Offering”). The Company has raised an additional $1,058,025 through the issuance of 2,351,167 units (the “NFT Units”) at a price of $0.45 per NFT Unit for a total raise of $1,667,210 in NFT Units. The Company also issued an additional 65,000 flow through units (the “FT Units”) at a price of $0.49 per FT Unit for a total raise of $2,319,410 in FT units. The total value of the NFT and FT units raised was $3,986,620. Each NFT Unit is comprised of one common share and one share purchase warrant. Each FT Unit is comprised of one flow through common share and one share purchase warrant. Each warrant entitles the holder to purchase one common share of the Company at a price of $0.67 per share for a period of two years expiring March 30, 2023. If the closing price of the common shares of the Company is higher than $1.00 for a period of 20 consecutive trading days at any time after six months following the closing date, the Company can accelerate the expiry date of the warrants to that date which is 30 days after the Company gives notice of such acceleration. As part of the Offering, Exploits issued FT Units for aggregate gross proceeds of $1,850,350 to certain funds managed by Sprott Asset Management LP, Middlefield Capital Corp., and Maple Leaf Funds. The Company engaged Canaccord Genuity Corp. (“Canaccord”) to act as financial advisor for the Offering and issued 111,111 NFT Units to Canaccord in payment of their financial advisory fee. These NFT Units are on the same terms as the securities issued in this Offering. In connection with the closing of the final tranche the Company paid $20,579.99 and issued 45,732 finder warrants as finders’ fees. The finder warrants are exercisable at a price of $0.67 for a period of two years expiring March 30, 2023. In connection with the first tranche closing, Exploits also paid additional finders’ fees of $3,150 and issued 7,000 finder warrants exercisable at a price of $0.67 for two years expiring March 15, 2023. All securities issued are subject to a four ...