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Gold’n Futures Closes C$2.2 Million in First Tranche of Private Placement Led by Canaccord Genuity Corp.
VANCOUVER, British Columbia, Aug. 25, 2021 (GLOBE NEWSWIRE) -- GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company” or “Gold’n Futur
About this update from Gold'n Futures Mineral Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 25, 2021 (GLOBE NEWSWIRE) -- GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the \"Company” or “Gold’n Futures”) is pleased to announce that it has closed the first tranche of its previously announced brokered 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 C$2,201,309.00 (the \"First Tranche\"). 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 which 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 is 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 First Tranche, subject to adjustment in certain circumstances. Any Warrant Shares issued upon the exercise of Warrants will be issued on a non flow-through basis. Stephen Wilkinson, CEO of Gold’n Futures, commented: “This Private Placement is notable as it is being completed during a very difficult summer market that is further complicated with the continuing Covid pandemic. The fact that we are advancing is a credit to the team at Canaccord and to the quality and remarkable potential our Gold’n Futures Hercules gold project. We are lining up our consultants, contractors and field team, and will be commencing work on the property within the next 3 weeks. In addition, we have made the permit application for our diamond drilling and are expecting the permit by mid-October.” In connection with the closing of the First Tranche, the Company paid a cash commission to Canaccord Genuity Corp. (the “Agent”) equal to 7.0% of the aggregate gross proceeds under the First Tranche, and issued an aggregate of 1,742,545 non-transferable broker warrants (\"Broker Warrants\") to the Agent, with each such Broker Warrant entitling the Agent to acquire one Common Share of the Company at an exercise price of C$0.095 for a period of 24 months from the date of issuance, subject to adjustment in certain circumstances. The Company intends to us...