Business
Fairchild Announces an Increase in the Size of its Private Placement
(TheNewswire) Vancouver, BC - TheNewswire - January 23, 2023 - Fairch...
About this update from Fairchild Gold Corp.
[{"type":"text","content":"Fairchild Announces an Increase in the Size of its Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver,\n \n \n BC\n \n \n -\n \n \n TheNewswire -\n \n \n January 23, 2023\n \n \n -\n \n Fairchild Gold Corp. (\"\n \n Fairchild\n \n \" or the “\n \n Company\n \n ”)\n \n (TSXV:FAIR)\n \n is pleased to announce\nits intention to\n \n increase the size of its non-brokered\nprivate placement previously announced on December 21, 2022.\n \n \n \n \n The originally announced\n \n non-brokered private\nplacement (the \"\n \n Offering\n \n \") was comprised of 10,000,000 units (the\n\"\n \n Units\n \n \") at a price\nof CDN$0.06 per Unit for gross proceeds of up to CDN$600,000. Each\nUnit will consist of one Common share in the capital of the Company (a\n“\n \n Share\n \n ”) and one whole\ntransferable Common share purchase warrant (a “\n \n Warrant\n \n ”). Each whole Warrant will\nbe exercisable to acquire one Share at an exercise price of CDN$0.10\nper Share for a period of 36 months from the date of issuance, subject\nto the following acceleration right. If, at any time after the date\nthat is 4 months and one day after the date of issuance of the\nWarrant, the average volume weighted trading price of the Company’s\nCommon shares on the TSX Venture Exchange (or such other stock\nexchange on which the Common shares may be traded from time to time)\nis at or above CDN$0.50 per share for a period of 5 consecutive\ntrading days (the “\n \n Triggering\nEvent\n \n ”), the Company may at any time , after the Triggering\nEvent, accelerate the expiry date of the Warrants by giving ten\ncalendar days notice to the holders of the Warrants, by way of news\nrelease, and in such case the Warrants will expire on the first day\nthat is 30 calendar days after the date on which such notice is given\nby the Company announcing the Triggering Event.\n \n \n \n Due to an increased interest by investors to\nparticipate in this Offering, the Company has decided to increase the\nsize of the Offering to offer up to 12,500,000 Units, an increase of\n2,500,000 Units.\n \n \n \n Certain insiders of the Company may acquire Units in the Offering. Any\nparticipation by insiders in the Private Placement would constitute a\n\"related party transaction\" as defined ...