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Telson Extends Closing of Non-Brokered Private Placement and Updates on Filing Annual Financial Statements
(via TheNewswire) Vancouver, British Columbia - TheNewswire - April 27, 2020 - ...
About this update from Luca Mining Corp
[{"type":"text","content":"Telson Extends Closing of Non-Brokered Private Placement and Updates on Filing Annual Financial Statements(via TheNewswire)\n \n \nVancouver, British Columbia - TheNewswire - April 27, 2020 - Telson Mining Corporation (\"Telson\" or the \"Company\" (TSXV:TSN), (OTC:SOHFF), (Frankfurt:TSGN) (formerly SQ82)) is pleased to announce that further to its news releases dated December 27, 2019 and February 13, 2020, the Company is seeking a 30 day extension from the date hereof from the TSX Venture Exchange to close its non-brokered private placement offering (the \"Private Placement\") of up to of up to 30,000,000 units (the \"Units\") at a price of C$0.10 per Unit for total proceeds of up to C$3.000,000. As announced on February 13, 2020, the Company closed Tranche 1 of the Private Placement for total proceeds of approximate C$1.89 million. \n\n\n \nEach Unit consists of one common share in the capital of the Company (a \"Share\") and one half of a transferable share purchase warrant (a \"Warrant\"), each full Warrant entitling the holder thereof to acquire an additional Share for a period of two years from the date of issuance (the \"Expiry Date\") at a price of CAD$0.25 per Share. In the event that at any time after 4 months from the date of issuance the volume weighted average closing price per Share is more than CAD$0.50 for more than 15 consecutive trading days, the Company will be able to accelerate the Expiry Date of the Warrants to the date that is 30 days following the date on which the Company announces the accelerated Expiry Date of the Warrants by news release.\n\n\n \nThe balance of the private placement offering remains open under existing securities exemptions to accredited investors, family, friends, and business associates of management as well as existing shareholders of the Company. Qualified investors interested in participating in the remaining unsubscribed balance of the private placement are encouraged to contact the Company.\n\n\n \nExtension to Filing Annual Audited Financial Statements\n\n\n \nThe Company also today provides an update on the timing of its regulatory filings. On March 23, 2020, the Canadian Securities Administrators granted blanket relief (the \"Blanket Relief\") for all reporting issuers, providing up to a 45-day extension for periodic filings normally required to be made on or before June 1,...