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High Tide Resources Announces Closing of First Tranche of Non-Brokered Private Placement
TORONTO, ON / ACCESSWIRE / November 17, 2022 / High Tide Resources Corp. ("High Tide Resources" or the "Company") (CSE:HTRC) is pleased to announce that it has
About this update from High Tide Resources Corp.
[{"type":"text","content":" TORONTO, ON / ACCESSWIRE / November 17, 2022 / High Tide Resources Corp. (\"High Tide Resources\" or the \"Company\") (CSE:HTRC) is pleased to announce that it has closed the first tranche (the \"First Tranche\") of its previously announced non-brokered private placement (the \"Offering\"). The First Tranche consisted of the sale of 4,000,000 units of the Company (the \"HD Units\") at a price of $0.10 per HD Unit for aggregate proceeds of $400,000. Each HD Unit is 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 Warrant entitles 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 applicable tranche of the Offering. The Company expects to close a second tranche of the Offering (the \"Second Tranche\") on or about December 7, 2022 or such other date or dates that the Company may determine, subject to the receipt of all required regulatory approval, including acceptance of the Exchange. The Second Tranche is expected to consist of a combination of 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. 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. The gross proceeds of the Offering will be up to an aggregate of $1,000,000, exclusive of a 25% upsize option (the \"Upsize Options\"), to be exercised in the Company's sole discretion. If the Upsize Option is exercised, the total aggregate gross proceeds will be up to $1,250,000. The net proceeds from the issue and sale of the HD Units will be used for exploration of the Company's mineral properties and...