Business
E-Power Resources Announces Flow-Through and Non Flow-Through Private Placements
Montreal, Quebec--(Newsfile Corp. - May 9, 2023) - E-Power Resources Inc (CSE: EPR) ("E-Power" or the "Company") announces its intention to complete a private p
About this update from E-power Resources, Inc.
[{"type":"text","content":" Montreal, Quebec--(Newsfile Corp. - May 9, 2023) - E-Power Resources Inc (CSE: EPR) (\"E-Power\" or the \"Company\") announces its intention to complete a private placement, comprised of a flow-through portion of up to $600,000 (the \"FT Offering\") and a non-flow through portion of up to $600,000 (the \"Non FT Offering\", and collectively with the FT Offering, the \"Offering\"), for total gross proceeds of up to $1,200,000. Securities to be issued pursuant to the Non-FT Offering shall consist of an amount of up to 1,875,000 units of the Company (the \"Non FT Units\") issued at a price of $0.32 per Non FT Unit, each Non FT Units being comprised of one common share in the capital of the Company (each a \"Common Share\") and one common share purchase warrant (each a \"Warrant\"), each warrant entitling its holder thereof to acquire one additional common share at a price of $0.48 per share for a period of 2 years from the closing date of the Non-FT Offering. Securities to be issued pursuant to the FT Offering shall consist of an amount of up to 1,714,286 units of the Company (the \"FT Units\") issued at a price of $0.35 per FT Unit, each FT Unit being comprised of one common share in the capital of the Company (each a \"FT Share\") that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)), and one warrant, each warrant entitling its holder thereof to acquire one share at a price of $0.48 per share for a period of 2 years from the closing date of the FT Offering. Net proceeds from the FT Offering will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\", as defined in subsection 127(9) of the Income Tax Act (Canada) and under section 359.1 of the Taxation Act (Quebec) (the \"Qualifying Expenditures\"), related to the Company's Tetepisca Graphite Property, located in the Tetepisca Graphite District of the North Shore Region of Quebec, on or before December 31, 2024. All Qualifying Expenditures will be renounced in favour of the subscribers to the FT Offering effective December 31, 2023. In addition, with respect to Quebec resident subscribers of FT Shares and who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the \...