Business
Gungnir Closes First Tranche of Up-Sized Private Placement of Lead Order by Altius Minerals
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 Closes First Tranche of Up-Sized Private Placement of Lead Order by Altius MineralsNOT FOR DISTRIBUTION TO U.S. NEWSWIRES OR DISSEMINATION IN THE UNITED STATESSURREY, BC / ACCESSWIRE / March 24, 2022 / Gungnir Resources Inc. (TSXV:GUG)(OTC PINK:ASWRF) (\"Gungnir\" or the \"Company\") is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement of its up-sized offering of up to C$2,400,000 (see news release dated March 23, 2022), for gross proceeds under the first tranche of $750,000, being the lead order from Altius Minerals Corporation (ALS: TSX; ATUSF: OTCQX).The company intends to close the second and final tranche of the private placement during the week of March 28, 2022. No finder's fees were paid on the first tranche of the private placement. In addition to Altius' lead order in the private placement, the Company entered into a royalty option agreement with Altius in exchange for $250,000 cash (see news release dated March 18, 2022 for further details).Each Unit will consist of one common share in the capital of the Company (each, a \"Common Share\") and one common share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to acquire one Common Share (each, a \"Warrant Share\") at a price per Warrant Share of $0.18 per share for a period of 24 months from the closing.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.The closing of the Offering is subject to certain conditions, including but not limited to, the approval of the TSX Venture Exchange (\"Exchange\"). In connection with the Offering, the Company may pay finders' fees in cash or securities, or a combination of both, as permitted by the policies of the Exchange. All securities issued under the Offering are subject to a hold period expiring four months and one day from the closing date of the Offering.This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities in the United States nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities being offered have...