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Heritage Mining Announces Closing of the First Tranche of its Non-Brokered Private Placement of Units and Flow-Through Units
VANCOUVER, BC, - TheNewswire - April 7, 2025 – Heritage Mining Ltd. (CSE: HML) (“Heritage” or the “Company”) is pleased to announce that it has closed the first
About this update from Heritage Mining Ltd.
[{"type":"text","content":"VANCOUVER, BC, - TheNewswire - April 7, 2025 – Heritage Mining Ltd. (CSE: HML) (“Heritage” or the “Company”) is pleased to announce that it has closed the first tranche (“Tranche One”) of its fully allocated non-brokered private placement financing previously announced on March 7, 2025. The Company raised an aggregate of $796,000.00 pursuant to Tranche One, of which $702,500 was raised on the issuance of 14,050,000 flow-through units (“FT Units”) and $93,500 was raised on the issuance of 1,870,000 units (“Units”). Each FT Unit consisting of one flow through common share (“FT Common Share”) and one Warrant (“FT Unit Warrant”) with each FT Unit Warrant entitling the holder to purchase one Common Share at an exercise price of $0.10 for a period of 60 months from issuance, subject to accelerations provisions. Each FT Share was issued at a price of $0.05 and is comprised of one Common Share which will qualify as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act (Canada) and one Warrant. Each Unit was issued at a price per Unit of $0.05 and is comprised of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant entitling the holder to acquire one Common Share for a period of 60 months at an exercise price of $0.10 (“Warrant”), subject to accelerations provisions. The Warrants are subject to an accelerated expiry option whereby the Company can trigger an accelerated 30-day expiry of the Warrants if the closing price of the Company’s Common Shares listed on the Canadian Securities Exchange (the “CSE”) remain higher than $1.00 for 10 consecutive trading days. On the 10th consecutive trading day above $1.00 (the “Acceleration Trigger Date”), the Expiry Time may be accelerated to 30 trading days after the Acceleration Trigger Date by the issuance of a news release announcing such acceleration, within two trading days of the Acceleration Trigger Date. The Company paid an aggregate $46,975.00 in cash commissions and issued an aggregate 729,500 compensation options (the “Compensation Options”) in connection with Tranche One. Each Compensation Option entitles the holder to acquire one additional Unit at a price of $0.05 for a period of 36 months following the date of issuance. Proceeds of Tranche One will be used to fund the Company's previously announced exploration...