Business
Happy Creek Announces Closing of Non-Brokered Private Placement
(TheNewswire) Vancouver, British Columbia - TheNewswire - November 30, 2023 - H...
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[{"type":"text","content":"Happy Creek Announces Closing of Non-Brokered Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia -\n \n \n TheNewswire -\n \n \n November 30, 2023 -\n \n \n Happy Creek Minerals Ltd.\n \n \n (TSX-V:HPY)\n \n \n (“\n \n \n Happy\n \n \n Creek\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) is pleased to announce that the previously announced\nnon-brokered private placement (see the Company’s news release dated\nOctober 16, 2023) (the “Private Placement”) has closed on a total\nof 5,034,545\n \n \n non-flow-through Common Shares at a\nprice of $0.055 per Common Share\n \n \n .\n \n \n \n \n In connection with the closing of the private\nplacement, the Company paid Pollitt & Co. Inc. the following\nfinder’s fees: $5,989.50 in cash and 108,900 Non-Transferable\nFinders Warrants.  Each Finder’s Warrant entitles the holder to\npurchase one common share of the Company at an exercise price of $0.12\nper share up to close of business on November 30, 2025.\n \n \n \n \n The net proceeds of $276,900 will be used for general\nworking capital and additional engineering, development and advanced\npermitting work.\n \n \n \n \n All common shares issued under the Private Placement\nwill be subject to a hold period expiring on March 31, 2024, in\naccordance with applicable Canadian securities laws.\n \n \n \n \n In connection with the Private Placement, the Company\nissued common shares to persons that are directors or senior officers\nof the Company\n \n \n \n \n .\n \n \n The Company has determined that exemptions\nfrom the various requirements of TSX Venture Exchange Policy 5.9 and\nMultilateral Instrument 61-101 (“MI 61-101”) are available for the\nissuance of the common shares to these related parties. The Company\nrelied on Section 5.5(c) of MI 61-101 for an exemption from the formal\nvaluation requirement on the basis that the transaction was a\ndistribution of securities for cash, and Section 5.7(1)(b) of MI\n61-101 for an exemption from the minority approval requirement as the\nfair market value of the transaction was not more than\n$2,500,000.\n \n \n \n \n About Happy Creek Minerals\nLtd.\n \n \n \n \n Happy Creek is focused o...