Business
Happy Creek Announces Private Placement
(TheNewswire) August 20, 2024 – TheNewswire - Vancouver, British Columbia &#...
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[{"type":"text","content":"Happy Creek Announces 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 August 20, 2024 –\n \n\n TheNewswire\n-\n \n\n Vancouver, British Columbia – Happy Creek\nMinerals Ltd. (TSX-V: HPY) (“Happy Creek” or the “Company”)\nannounces that it will effect a non-brokered private placement of a\nmaximum of 10,000,000 units at a price of $0.05 per unit for maximum\ngross proceeds of $500,000 (the “Offering”).\n \n\n\n\n Each unit will be comprised of one common share and one\nshare purchase warrant. Each full warrant will entitle the holder\nthereof to purchase one additional common share of the Company at a\nprice of $0.075 for two years from the date of issuance.\n \n\n\n\n The Company plans to use the aggregate net proceeds of\nthe Offering to complete exploration work on its Cariboo and Highland\nValley projects as well as for general corporate working capital\npurposes.\n \n\n\n\n Securities issued under the Offering will be subject to\na statutory hold period of 4 months from the date of issue. The\nCompany may pay finder’s fees incidental to the Offering, as\npermitted by the policies of the TSX Venture Exchange (the\n“TSX.V”).\n \n\n\n\n Directors, management and insiders may subscribe for\nUnits in the Financing.  The purchase of such Units shall be\nconsidered to be a related-party transactions under Multilateral\nInstrument 61-101 – Protection of Minority Security Holders in\nSpecial Transactions (“MI 61-101”) due to the participation of\ncertain directors and officers of the Company, but shall be exempted\nfrom the requirements to obtain a formal valuation and to obtain\nminority approval, as the purchase of securities shall not exceed 25%\nof the Corporation’s market capitalization.  The Corporation is\nrelying on exemptions from the formal valuation and minority\nshareholder approval requirements provided under sections 5.5(a) and\n5.7(1)(a) of MI 61-101.\n \n\n\n\n Closing shall be subject to receipt of all necessary\ncorporate and regulatory approvals, including approval of the\nTSX-V.\n \n\n\n On behalf of the Board of Directors,\n \n\n\n “Jason Bahnsen”\n \n\n\n President and Chief Executive Officer\n \n\n\n FOR FURTHER INFORMAT...