Business
High Tide Resources Announces C$1 Million Non-Brokered Private Placement
TORONTO, Nov. 07, 2022 (GLOBE NEWSWIRE) -- High Tide Resources Corp. (“High Tide Resources” or the “Company”) (CSE: HTRC) is pleased to announce its intention t
About this update from High Tide Resources Corp.
[{"type":"text","content":" TORONTO, Nov. 07, 2022 (GLOBE NEWSWIRE) -- High Tide Resources Corp. (“High Tide Resources” or the “Company”) (CSE: HTRC) is pleased to announce its intention to complete a non-brokered private placement offering of common share units (the “HD Units”) at a price of $0.10 per HD Unit, national flow-through units (the \"National FT Units\") at a price of $0.12 per National FT Unit, and Quebec flow-through units (the “Quebec FT Units”, and together with the National FT Units, the “FT Units”) at a price of $0.13 per Quebec FT Unit for aggregate gross proceeds of up to $1,000,000 (the “Offering”). The Company has reserved the right to increase the size of the Offering by up to 25% of the size of the Offering, subject to the approval of the Canadian Securities Exchange (the “Exchange”). Each HD Unit will be comprised of one (1) common share in the capital of the Company (a “Common Share”) issued on a non-flow-through basis and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each National FT Unit will be comprised of one (1) Common Share qualifying as a “flow-through share” as defined in subsection 66(15) of the Tax Act and one half of one Warrant. Each Quebec FT Unit will be comprised of one (1) Common Share qualifying as a “flow-through share” as defined in subsection 66(15) of the Tax Act and section 359.1 of the Quebec Tax Act and one half of one Warrant. Each Warrant will entitle the holder thereof to acquire one (1) Common Share (a “Warrant Share”) at a price of $0.16 per Warrant Share for a period of sixty (60) months following the closing date of the Offering. The net proceeds from the issue and sale of the HD Units will be used for exploration of the Company’s mineral properties and for general corporate purposes. The Company will use an amount equal to the gross proceeds from the sale of the FT Units to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" (as both terms are defined in the Income Tax Act (Canada)) and in respect of Québec resident subscribers who are eligible individuals, will qualify for inclusion in the \"exploration base relating to certain Québec surface mining or oil and gas exploration expenses\" and the \"exploration base relating to certain Québec exploration expenses\" of the Corporation as such te...