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Stuhini Exploration Ltd. Announces up to $1,600,000 Private Placement with Lead Order from Eric Sprott
Stuhini Exploration Ltd. Announces up to $1,600,000 Private Placement with Lead Order from Eric S...
About this update from Eranova Metals Inc.
[{"type":"text","content":"\n \n \n \n Stuhini Exploration Ltd. Announces up to $1,600,000 Private Placement with Lead Order from Eric Sprott\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 \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 23, 2023\n \n \n /CNW/ - Stuhini Exploration Ltd. (the \"\n \n Company\n \n \" or \"\n \n Stuhini\n \n \") (TSXV: STU) (OTCPK: STXPF) is pleased to announce a non-brokered private placement (\"\n \n Private Placement\n \n \") of up to 4,000,000 units of the Company (\"\n \n Units\n \n \") at a price of\n \n $0.40\n \n per Unit (the \"\n \n Issue Price\n \n \") for gross proceeds to the Company of up to\n \n $1,600,000\n \n The Company is pleased to advise that\n \n Eric Sprott\n \n has agreed to purchase\n \n $1,000,000\n \n of Units under the Private Placement.\n \n \n \n \n \n \n \n \n \n \n Dave O'Brien\n \n , Company President and CEO, stated: \"We are very pleased with Mr. Sprott's continued support as a key shareholder. His investment is a strong endorsement for the Ruby Creek Molybdenum deposit as well as the outlook for molybdenum going forward. The price of molybdenum has tripled since the summer of 2021, and we believe the Ruby Creek Project is a world class deposit.\" See news release dated\n \n March 15, 2022\n \n announcing the molybdenum mineral resource estimate and technical report dated\n \n April 22, 2022\n \n filed on SEDAR.\n \n \n Each Unit will consist of one common share (each a \"\n \n Common Share\n \n \") of the Company and one half of one Common Share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \"). Each whole Warrant is exercisable into one Common Share at a price of\n \n $0.50\n \n per Common Share for a period of two years following the closing of the Private Placement.\n \n \n The net proceeds of the Private Placement will be used: (i) to fund the final cash payment of\n \n $640,000\n \n under the option agreement pursuant to wh...