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Infinico Metals Announces $1.4 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 2, 2024) - Infinico Metals Corp. (TSXV: INFM) ...
About this update from Infinico Metals Corp.
[{"type":"text","content":"Infinico Metals Announces $1.4 Million Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - May 2, 2024) - Infinico Metals Corp. (TSXV: INFM) (\"Infinico\" or the \"Company\") is pleased to announce a proposed non-brokered private placement financing (the \"Offering\") for gross proceeds of up to $1,400,000 composed of the sale of: (i) hard dollar units (\"HD Units\") at a price of $0.075 per HD Unit for gross proceeds of up to $400,000; and (ii) flow-through units (\"FT Units\") at a price of $0.09 per FT Unit and charity flow-through units (the \"CFT Units\") at a price of $0.145 per CFT Unit, in any combination, for gross proceeds of up to $1,000,000. Each HD Unit shall be composed of one common share (each, a \"Share\") in the capital of the Company and one-half of one Share purchase warrant (each, a \"Warrant\"), with each whole Warrant exercisable by the holder for a period of twenty-four (24) months from the date of issuance at a price of $0.15 per Warrant. Each FT Unit and each Charity FT Unit shall be composed of one common share that qualifies as a \"flow-through share\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec))(each, a \"FT Share\") and one-half of one Warrant, with each whole Warrant exercisable by the holder for a period of twenty-four (24) months from the date of issuance at a price of $0.15 per Warrant.The Company will use an amount equal to the gross proceeds received by the Company from the sale of the FT Units and CFT Unis to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" as such 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 terms are defined in the Taxation Act (Québec) (the \"Qualifying Expenditures\") related to the Company’s properties located in Quebec on or before December 31, 2025, and to renounce all the Qualifying Expenditures in favour of the subscribers of the FT Units and CFT Units effective D...