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GABO Mining Ltd Announces Increase in Private Placement to $2,000,000 and Closing of the First Tranche at $1,103,000 Gross Proceeds
(TheNewswire) VANCOUVER, British Columbia, June 26, 2024 – TheNewswire - ...
About this update from Gamma Resources Ltd.
[{"type":"text","content":"GABO Mining Ltd Announces Increase in Private Placement to $2,000,000 and Closing of the First Tranche at $1,103,000 Gross Proceeds\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, British Columbia, June 26, 2024 –\n \n \n TheNewswire\n \n \n -\n \n \n GABO Mining\nLtd\n \n \n . (formerly Medallion Resources\nLtd).\n \n \n (TSX-V: GAB; OTCPK:\nMLLOF; Frankfurt: MRDN) (“GABO” or the “Company”)\n \n \n is pleased to announce the non-brokered private placement\n(the “Private Placement”) announced February 27, 2024 for gross\nproceeds of up to $1,000,000 has been increased to gross proceeds of\nup to $2,000,000 and the Company announces the closing of the first\ntranche on June 26, 2024 for gross pr\n \n \n \n \n oceeds of $1,103,000.\n \n \n \n \n The Private Placement will consist of up to 20,000,000\nunits (each a “Unit”) at a purchase price of $0.10 per Unit for\ngross proceeds of up to $2,000,000. Each Unit will consist of one\ncommon share in the capital of the Company (a “Common Share”) and\none non-transferable Common Share purchase warrant (each whole\nwarrant, a “Warrant”). Each Warrant will entitle the holder to\nacquire one additional Common Share at an exercise price of $0.15 for\na period of 36 months following the closing of the Private Placement\n(the “Closing Date”). The Company anticipates closing a second\ntranche of the Private Placement shortly. The completion of the first\ntranche, and the subsequent second tranche, of the Private Placement\nis subject to the acceptance of the TSX Venture Exchange.\n \n \n \n \n In connection with the closing of the first tranche,\nthe Company issued 11,030,000 Units at a price of $0.10 per Unit.\n Each unit is comprised of one Common Share and one Warrant. Each\nWarrant entitles the holder thereof to purchase one Common Share until\nJune 26, 2027 at an exercise price of $0.15 per warrant share.\n \n \n \n \n Directors of the Company have participated in the first\ntranche for an aggregate of 2.5 million units. Such participation in\nthe first tranche is considered to be a related party transaction as\ndefined in Multilateral Instrument 61-101 -- Protection of Minority\nSecurity Holders in Special Transactions. The Company intends to re...