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Halcones Precious Metals Closes Second Tranche of Private Placement Offering and Announces Upsizing
TORONTO, July 19, 2023 (GLOBE NEWSWIRE) -- Halcones Precious Metals Corp. (TSXV: HPM) (the “Company” or “Halcones”) has closed the second tranche (the “Second T
About this update from Halcones Precious Metals Corp
[{"type":"text","content":" TORONTO, July 19, 2023 (GLOBE NEWSWIRE) -- Halcones Precious Metals Corp. (TSXV: HPM) (the “Company” or “Halcones”) has closed the second tranche (the “Second Tranche”) of its previously announced non-brokered private placement financing (the “Offering”). The Company issued 14,800,000 units (the “Units”) a price of $0.05 per Unit for gross proceeds of $740,000. Please see the Company’s press release dated June 21, 2023 for further details regarding the Offering and the Company’s press release dated July 14, 2023 for further details regarding the first tranche of the Offering (the “First Tranche”). Due to investor demand, the Company is increasing the Offering from total gross proceeds of up to $2 million to total gross proceeds of up to $3 million. The Offering will now consist of up to 60 million Units. Each Unit is comprised of one common share in the capital of the Company (each a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.10 per Common Share for a period of 36 months following the date hereof. Securities issued under the Offering carry a hold period of 4 months and one day from the date hereof as required under applicable securities laws. The Company plans to use the aggregate net proceeds of the First Tranche and Second Tranche to continue the exploration work on the Company’s Carachapampa project as well as general corporate working capital purposes. The Company intends to complete the final tranche of the Offering on or before August 4, 2023. The Offering is subject to the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. PowerOne Capital Markets Limited acted as finder in connection with a portion of the Second Tranche. Halcones paid finder’s fees of $46,550 in cash and issued 931,000 non-transferable finder’s warrants (the “Finder’s Warrants”). Each Finder’s Warrant entitles the holder thereof to acquire one Common Share at a price of $0.05 for 36 months following the date hereof. The Finder Warrants issued in connection with the First Tranche have an exercise price of $0.05 and not $0.10 as indicated in the Company’s July 14, 2023 press release. The securities being offered have not, nor will they be registered under t...