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Baselode Announces Closing of C$3M Bought Deal Private Placement
Baselode Announces Closing of C$3M Bought Deal Private Placement Canada NewsWire ...
About this update from Geiger Energy Corporation
[{"type":"text","content":"\n \n \n \n Baselode Announces Closing of C$3M Bought Deal 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 19, 2022\n \n \n /CNW Telbec/ - Baselode Energy Corp. (TSXV: FIND) (OTCQB: BSENF) (\"\n \n Baselode\n \n \" or the \"\n \n Company\n \n \") is pleased to announce the closing of its previously announced \"bought deal\" private placement (the \"\n \n Offering\n \n \") for gross proceeds of\n \n C$3.0 million\n \n from the sale of 3,571,429 flow-through units of the Company that were sold to charitable purchasers (each, a \"\n \n Charity FT Unit\n \n \") at a price of\n \n C$0.84\n \n per Charity FT Unit. The Charity FT Units were sold through a syndicate of underwriters led by Red Cloud Securities Inc. and PI Financial Corp. and included Research Capital Corporation (collectively, the \"\n \n Underwriters\n \n \").\n \n \n Each Charity FT Unit consists of one common share of the Company to be issued as a \"flow-through share\" within the meaning of the Income Tax Act (\n \n Canada\n \n ) (each, a \"\n \n FT Share\n \n \") and one half of one common share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \"). Each Warrant shall entitle the holder to purchase one common share of the Company (each, a \"\n \n Warrant Share\n \n \") at a price of\n \n C$0.80\n \n at any time on or before\n \n December 19, 2024\n \n .\n \n \n The Company intends to use the proceeds raised from the Offering for exploration of the Company's projects in the\n \n Athabasca\n \n Basin. Proceeds from the sale of FT Shares will be used to incur \"Canadian exploration expenses\" as defined in subsection 66.1(6) of the Income Tax Act and \"flow through mining expenditures\" as defined in subsection 127(9) of the Income Tax Act. Such proceeds will be renounced to the subscribers with an effective date not later than\n \n December 31, 2022\n \n , in th...