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Gungnir Announces Closing of Over-Subscribed Upsized Private Placement of $2.5 Million
NOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATES SURREY, BC ...
About this update from Gungnir Resources Inc
[{"type":"text","content":"Gungnir Announces Closing of Over-Subscribed Upsized Private Placement of $2.5 MillionNOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATESSURREY, BC / ACCESSWIRE / March 31, 2022 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) (\"Gungnir\" or the \"Company\") is pleased to announce that it has completed the second and final tranche of its previously announced non-brokered private placement for 15,068,336 units of the Company (the \"Units\") priced at $0.12 per Unit (the \"Unit Price\"), for total gross proceeds under the second and final tranche of $1,808,200, resulting in a total of 21,318,336 Units issued under the Offering for total gross proceeds of $2,558,200 (the \"Offering\"). Each Unit consists of one common share in the capital of the Company (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\"), with each Warrant entitling the holder thereof to acquire one Common Share for a period of two years from the applicable closing date of the Offering at an exercise price of $0.18 per share.The net proceeds of the Offering will be used to continue the exploration program, inclusive of drilling, at the Company's 100% owned projects in Sweden, concentrating on the Company's nickel resources, as well as for general corporate purposes.All securities issued under the Offering are subject to a hold period expiring four months and one day from the applicable closing date of the Offering.As consideration for the services of certain finders, the Company paid an aggregate cash commission of $120,240 and issued an aggregate of 989,999 finder options (the \"Finder Options\"). Each Finder Option is exercisable at a price of $0.12 and entitles the holder to acquire one Common Share and one common share purchase warrant (each, a \"Finder Warrant\"). Each Finder Warrant entitles the holder to acquire one Common Share (each, a \"Finder Warrant Share\") at a price per Finder Warrant Share of $0.18 per share for a period of 24 months from the closing of the Offering.Insiders of the Company subscribed for an aggregate of 125,000 Units under the Offering. Each transaction with an insider of the Company constitutes a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Compa...