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Heritage Mining Announces Closing of the Second and Final Tranche of its Non-Brokered Private Placement of Units and Flow-Through Units
VANCOUVER, BC – TheNewswire - April 22, 2025 – Heritage Mining Ltd. (CSE: HML) (“Heritage” or the “Company”) is pleased to announce that it has closed the secon
About this update from Heritage Mining Ltd.
[{"type":"text","content":"VANCOUVER, BC – TheNewswire - April 22, 2025 – Heritage Mining Ltd. (CSE: HML) (“Heritage” or the “Company”) is pleased to announce that it has closed the second and final tranche (“Tranche Two”) of its non-brokered private placement financing (the “Offering”) previously announced on April 7, 2025 and March 7, 2025. The Company raised an aggregate of $232,500.00 pursuant to Tranche Two, of which $182,500.00 was raised on the issuance of 3,650,000 units (“Units”) and $50,000.00 was raised on the issuance of 1,000,000 flow-through units (“FT Units”), for total gross proceeds of $1,028,500.00 from the Offering. 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 from issuance at an exercise price of $0.10 (“Warrant”). Each FT Unit was issued at a price per FT Unit 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. 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 $1,450 in cash commissions and issued an aggregate of 28,000 compensation warrants (the “Compensation Warrants”) in connection with Tranche Three. Each Compensation Warrant entitles the holder to acquire one Common Share for a period of 36 months from issuance at an exercise price of $0.05. Proceeds of Tranche Two will be used to fund the Company's previously announced exploration and drilling program on its flagship Drayton-Black Lake Project, in addition to general working capital. All securities issued pursuant to the Tranche Two are subject to a statutory hold period of four months plus one ...