Business
Gold’n Futures Oversubscribes Private Placement Led by Canaccord Genuity Corp. Raising Gross Proceeds of C$2.75 Million in Final Tranche
VANCOUVER, British Columbia, Sept. 14, 2021 (GLOBE NEWSWIRE) -- GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the "Company” or “Gold’n Futu
About this update from Gold'n Futures Mineral Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 14, 2021 (GLOBE NEWSWIRE) -- GOLD’N FUTURES MINERAL CORP. (CSE: FUTR) (FSE: G6M), (OTC: GFTRF) (the \"Company” or “Gold’n Futures”) is pleased to announce the closing of the final 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 total aggregate gross proceeds of C$2,753,028 (the \"Offering\"). Canaccord Genuity Corp. (the “Agent”) exercised the Agent’s Option, expanding the size of the Offering from the previously contemplated C$2,500,000 maximum. 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 Final 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: “The closing of this Private Placement marks to beginning of an exciting period for Gold’n Futures. Our first field crew has arrived at the Hercules Project and has begun the first stage of the field program. Over the coming weeks, the Company will be ramping up its activities with diamond drilling to commence next month once the permit is in hand.” In connection with the closing of the Offering, the Company paid a cash commission to the Agent equal to 7.0% of the aggregate gross proceeds and issued an aggregate of 2,159,727 (inclusive of the broker warrants issued upon closing of the first tranche) 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 use the net proceeds from the sale of FT Units...