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Stuhini Exploration Ltd. Closes First Tranche of Private Placement
Stuhini Exploration Ltd. Closes First Tranche of Private Placement Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n Stuhini Exploration Ltd. Closes First Tranche of Private Placement\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 Dec. 20, 2022\n \n \n /CNW/ - Stuhini Exploration Ltd. (the \"\n \n Company\n \n \" or \"\n \n Stuhini\n \n \") (TSXV: STU) and (OTCPK: STXPF) is pleased to announce that it has closed the first tranche of its non-brokered private placement (the \"\n \n Private Placement\n \n \") previously announced on\n \n December 6, 2022\n \n and upsized on\n \n December 15, 2022\n \n for aggregate gross proceeds to the Company of\n \n $905,782.09\n \n .\n \n \n \n \n \n \n \n \n \n Under the first tranche of the Private Placement, the Company has issued a total of 3,938,183 units of the Company (\"\n \n Units\n \n \") at a price of\n \n $0.23\n \n per Unit. Each Unit consists 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 $0.35\n \n per Common Share until\n \n December 20, 2024\n \n .\n \n \n The net proceeds of the Private Placement will be used: (i) to fund the Company's exploration programs, including its four newly acquired mineral properties in south east\n \n Arizona\n \n ; (ii) to fund the\n \n $300,000\n \n cash option payment due\n \n December 31, 2022\n \n under the option agreement pursuant to which the Company was granted a right to acquire a 100% interest in its Ruby Creek Property; and (iii) for general, corporate and administrative expenses.\n \n \n In connection with the closing of the first tranche of the Private Placement, the Company paid finders' fees in cash totaling\n \n $7,360\n \n to Canaccord Genuity Corp. and Haywood Securities Inc. (collectively, the \"\n \n Finders\n \n \"), representing 8% of the gross proce...