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Group Eleven Announces Private Placement of up to $1,000,000; Michael Gentile, CFA to maintain 19.99% partially diluted interest
Group Eleven Announces Private Placement of up to $1,000,000; Michael Gentile, CFA to maintain 19...
About this update from Group Eleven Resources Corp.
[{"type":"text","content":"\n \n \n \n Group Eleven Announces Private Placement of up to $1,000,000; Michael Gentile, CFA to maintain 19.99% partially diluted interest\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /Not for dissemination in\n \n the United States\n \n or for distribution to U.S. wire services/\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 1, 2023\n \n \n /CNW/ -\n \n Group Eleven Resources Corp.\n \n (the \"\n \n Company\n \n \") (TSXV: ZNG) (OTC: GRLVF) (FRA: 3GE) is pleased to announce a non-brokered private placement (the \"\n \n Private\n \n \n Placement\n \n \") of up to 11,111,111 units of the Company (each, a \"\n \n Unit\n \n \") at a price of\n \n $0.09\n \n per Unit for gross proceeds of up to\n \n $1,000,000\n \n . All currency in this news release is denominated in Canadian dollars.\n \n \n \n \n \n \n \n \n \n Each Unit will consist of one common share in the capital of the Company (a \"\n \n Common Share\n \n \") and one-half of one non-transferrable common share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a \"\n \n Warrant Share\n \n \") for a period of 36 months from the date of issue at an exercise price of $0.15 per Warrant Share.\n \n \n The Private Placement will be made available to subscribers pursuant to the accredited investor and friends, family and business associate exemptions provided under sections 2.3(1) and 2.5 of National Instrument 45-106\n \n Prospectus Exemptions\n \n .\n \n \n The Company expects to pay finder's fees in connection with the Private Placement to certain eligible finders in the form of: (i) a cash commission of 6% of the gross proceeds raised under the Private Placement from investors introduced to the Company by the finder; and (ii) the issuance of such number of non-transferable common share purchase warrants of the Company (the \"\n \n Finder's Warrants\n \n \") equal to 6% of the Units issued under the Pr...