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Additional Subscriber to Flow-Through Private Placement, for New Total of $396,500
Additional Subscriber to Flow-Through Private Placement, for New Total of $396,500 ...
About this update from Goldflare Exploration Inc
[{"type":"text","content":"\n \n \n \n Additional Subscriber to Flow-Through Private Placement, for New Total of $396,500\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 PIEDMONT, QC, Nov. 6, 2020\n \n \n \n \n \n PIEDMONT, QC\n \n , Nov. 6, 2020 /CNW Telbec/ -\n \n Typhoon Exploration Inc.\n \n (TSXV: TYP)\n \n \n (\"Typhoon\" or \"the Company\") announces the participation of an additional subscriber to its private placement (the \"Offering\"), which now totals 6,100,000 flow-through common shares (the \"Flow-Through Shares\") at a price of\n \n $0.065\n \n per share for an aggregate gross proceed of\n \n $396,500\n \n .\n \n \n As announces earlier, in connection with the Offering, Typhoon has paid finder fees in cash aggregating\n \n $16,500\n \n and has issued 253,847 compensation options, each entitling  its holder to subscribe for one (1) common share of the Company at the price of\n \n $0.10\n \n for a period of 24 months after the closing of the Offering.\n \n \n The securities issued as part of the Offering are subject to a four (4) month and one (1) day hold period. The Offering remains subject to the final approval of the TSX Venture Exchange.\n \n \n The gross proceeds of the Offering will be used to advance exploration on the properties owned by Typhoon, including its Aiguebelle-Goldfields  Property and its new Syenite Condor Property, through sample testing and drilling, making sure the highest standards in environment protection are met. The Company will incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" within the meaning of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"Qualifying Expenditures\"). All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective\n \n December 31, 2020\n \n .\n \n \n This strategy aims to increase the value of assets of the Company for benefit of its shareholders.\n \n \n \n \n Cautionary Note Regarding Forward-Looking Information\n \n \n \n \n The information co...