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Leocor Gold Increases Private Placement Offering to C$11 Million
VANCOUVER, BC – TheNewswire - June 17, 2021 - Leocor Gold Inc. (CNSX:LECR.CN) (OTC:LECRF) (FRA:LGO) (“Leocor” or the “Company”), a rapidly growing resource expl
About this update from Leocor Mining Inc.
[{"type":"text","content":"VANCOUVER, BC – TheNewswire - June 17, 2021 - Leocor Gold Inc. (CNSX:LECR.CN) (OTC:LECRF) (FRA:LGO) (“Leocor” or the “Company”), a rapidly growing resource exploration & development company, is pleased to announce that it elected to increase the size of its previously announced private placement (the “Offering”). The Company will now offer up to 17,000,000 non-flow-through units (each, an “NFT Unit”) at a price of $0.50 per NFT Unit, and up to 4,166,667 flow-through units (each, an “FT Unit”) at a price of $0.60 for FT Unit, for combined gross proceeds of up to $11,000,000. Each NFT Unit will consist of one common share of the Company and one transferable common share purchase warrant (each, a “Warrant”), with each Warrant entitling the holder thereof to purchase one additional share at a price of $0.75 share for a period of twenty-four months. Each FT Unit will consist of one flow-through common share and one Warrant. The Offering will be conducted pursuant to available prospectus exemptions including sales to accredited investors, family members, close friends and business associates of directors and officers of the Company and to purchasers who have obtained suitability advice from a registered investment dealer pursuant to the exemption set out in British Columbia Instrument 45-536 (the “Investment Dealer Exemption”). The Offering is not subject to a minimum amount, and the maximum offering is 17,000,000 NFT Units and 4,166,667 FT Units for gross proceeds of $11,000,000. The Company expects to use the proceeds from the Offering for further exploration and project development in Newfoundland, for marketing of the Company, as well as for general working capital purposes. If the Offering is over-subscribed, subscriptions will be accepted at the discretion of the Company; therefore, it is possible that a subscriber's subscription may not be accepted by the Company even though it is received within the Offering period unless the Company determines to increase the size of the Offering. All securities issued under the Offering will be subject to a four-month hold period from the closing date in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The Offering is subject to certain c...