Business
Gold'n Futures Announces a Brokered C$2.5 Million Private Placement of Units and Flow-Through Units
VANCOUVER, BC, July 22, 2021 /CNW/ - GOLD'N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company" or "Gold'n Futures") is pleased to announc
About this update from Gold'n Futures Mineral Corp.
[{"type":"text","content":" VANCOUVER, BC, July 22, 2021 /CNW/ - GOLD'N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the \"Company\" or \"Gold'n Futures\") is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp., as agent and sole book-runner (the \"Agent\"), in connection with a best efforts, private placement of units (\"Units\") and flow-through units (\"FT Units\") of the Company at a price of C$0.085 per Unit and of C$0.095 per FT Unit for aggregate gross proceeds of up to C$2,500,000 (the \"Offering\"). Each Unit is comprised of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (\"Warrant\"). Each FT Unit is comprised of one common share of the Company (a \"FT Common Share\") and one Warrant each of which3 will qualify as a \"flow-through share\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)(the \"Tax Act\"). Each Warrant may be exercisable to acquire one Common Share (a \"Warrant Share\") at a price of C$0.12 per Warrant Share for a period of 24 months from the closing of the Offering. The Agent will have an option (the \"Agent's Option\") to increase the size of the Offering by up to 15% through the sale of additional Units and FT Unit at the respective offering prices, which Agent's Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering. The Company intends to use the net proceeds from the sale of FT Units to incur \"Canadian exploration expenses\" that are \"flow-through mining expenditures\" (as such terms are defined in the Tax Act) on the Company's Hercules gold property in Ontario and the Brady gold property in Newfoundland. The net proceeds from the sale of the Units will be used for general corporate purposes. The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws. The Offering is scheduled to close on August 12, 2021, or such date as agreed upon between the Company and the Agent (the \"Closing\") and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approv...