Logan Resources announces $3.5 million private placement

About this update from Intrepid Metals Corp.

[{"type":"text","content":"\n\n\n\nVANCOUVER, Nov. 20 /CNW/ - Logan Resources Ltd. (TSXV:LGR) ("The\nCompany") today announced a non brokered private placement. The financing\nconsists of up to 7,500,000 flow-through units (the "FT Units") at a price of\n$0.40 per FT Unit and up to 1,428,572 non-flow-though units (the "NFT Units")\nat a price of $0.35 per NFT Unit, for total gross proceeds of up to $3,500,000\n(the "Offering").\n\n\nEach FT Unit will consist of one flow-through share and one-half of one\nnon-flow-through share purchase warrant (a "FT Warrant"). Each whole FT\nWarrant is exercisable at $0.50 for 18 months.\n\n\nEach NFT Unit will consist of one common share and one share purchase\nwarrant (a "NFT Warrant"). Each NFT Warrant is exercisable at $0.45 for\n18 months.\n\n\nA finder's fee or commission of 8% will be paid in cash, or in NFT Units,\nat the election of the finder.\n\n\nThe Offering is subject to TSX Venture Exchange acceptance. All\nsecurities issued pursuant to the Offering will be subject to a four-month\nhold period from the closing date.\n\n\nThe proceeds from the flow-through portion of the financing will be used\nfor exploration programs on the Company's properties in the Yukon Territory,\nwith a particular focus on exploration and drilling at its Shell Creek (Cu,\nAu) project.\n\n\nProceeds from the non flow-through portion of the financing will be used\nfor working capital and general exploration.\n\n\nLogan Resources Ltd. is a mineral exploration company that specializes in\nacquiring, exploring and advancing Canadian mineral properties. The Company\nhas a diversified portfolio of precious metal, base metal and uranium\nprojects. For more information on the property portfolio and the Company,\nplease visit www.loganresources.ca, www.sedar.com and www.sec.gov websites.\n\n\nON BEHALF OF THE BOARD\n\n\n"Seamus Young"\n\n\n-------------------------------------\n\n\nSeamus Young\n\n\nPresident and CEO\n\n\nStatements contained in this news release that are not historical facts\nare forward-looking statements, which are subject to a number of known and\nunknown risks, uncertainness and other factors that may cause the actual\nresults to differ materially from those anticipated in our forward looking\nstatements. Although we believe that the expectations in ou...

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