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Heritage Mining Announces up to $1,500,000 Non-Brokered Private Placement of Units and Flow-Through Units
VANCOUVER, BC – TheNewswire - March 21, 2023 – Heritage Mining Ltd. (CSE:HML) (“Heritage” or the “Company”) is pleased to announce that it intends to issue, pur
About this update from Heritage Mining Ltd.
[{"type":"text","content":"VANCOUVER, BC – TheNewswire - March 21, 2023 – Heritage Mining Ltd. (CSE:HML) (“Heritage” or the “Company”) is pleased to announce that it intends to issue, pursuant to a non-brokered private placement, up to: 13,000,000 flow-through units (“FT Units”) of the Company at a price of $0.10 per FT Unit; and 2,222,222 units (“Units”) of the Company at a price of $0.09 per Unit, for aggregate gross proceeds of up to $1,500,000 (the “Offering”). Each Unit will consist of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each FT Unit will consist of one Common Share, each of which will qualify as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act (Canada), and one Warrant. Each Warrant will entitle the holder to acquire one Common Share (each, a “Warrant Share”) at an exercise price of $0.15 per Warrant Share until 4:30 pm (Pacific Standard time) on that date that is 36 months from the issuance closing date (the “Expiry Time”). Closing of the Offering is expected to occur as soon as practicable and prior to May 5, 2023 and is subject to all customary approvals. Proceeds of the Offering will be used to fund the Company’s planned exploration and drilling programs on its Drayton-Black Lake Project, in addition to general working capital. The securities issued pursuant to the Offering will be subject to a four month hold period under applicable securities laws. In connection with the Offering, certain finders may receive a cash fee and/or non-transferable finder warrants. ABOUT HERITAGE MINING LTD. The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community. The Company is well capitalized, with a tight capital structure. For further information, please contact: Heritage Mining Ltd. Peter Schloo, CPA, CA, CFA President, CEO and Director Phone: (905) 505-0918 Email: [email protected] FORWARD-LOOKING STATEMENTS This news release contains certain statements that ...