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Kingfisher Metals Announces Closing of $4.6 Million Private Placement Financing
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES VAN...
About this update from Kingfisher Metals Corp
[{"type":"text","content":"Kingfisher Metals Announces Closing of $4.6 Million Private Placement FinancingNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / June 3, 2021 / Kingfisher Metals Corp. (TSXV:KFR) (\"Kingfisher\" or the \"Company\") is pleased to announce the closing of its upsized marketed best efforts private placement for aggregate gross proceeds of C$4.6 million (the \"Offering\"). The Offering was led by PI Financial Corp. (the \"Agent\") as sole bookrunner.The Offering was comprised of (i) 5,450,000 charity flow-through units (the \"Charity FT Units\") at a price of C$0.63 per Charity FT Unit for gross proceeds of C$3.4 million; and (ii) 2,437,000 flow-through units (the \"FT Units\") at a price of C$0.51 per FT Unit for gross proceeds of C$1.2 million.As previously announced, each Charity FT Unit consists of one charity flow-through common share and one half of one transferable non-flow-through common share purchase warrant (each whole such common share purchase warrant, a \"Warrant\"). Each FT Unit consists of one flow-through common share and one half of one transferable non-flow-through common share purchase Warrant. Each Warrant shall be exercisable into one additional non-flow-through common share of the Company for 24 months at an exercise price of C$0.70.The net proceeds raised from the Charity FT Units and FT Units will be used by the Company 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) related to the Company's projects before 2023.In connection with the Offering, the Agent received an aggregate cash fee equal to 7.0% of the gross proceeds from the Offering, other than to certain purchasers identified by the Company to the Agent in which case a cash fee of 2% was paid. In addition, the Company issued to the Agent 529,334 non-transferable compensation warrants (the \"Compensation Warrants\"). Each Compensation Warrant will entitle the holder thereof to purchase one common share at an exercise price equal to $0.51 for a period of 24 months following the closing of the Offering.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be r...