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Mammoth Resources Increases Amount of Recently Announced Private Placement
Toronto, Canada - TheNewswire - January 21, 2021) - Mammoth Resources Corp. (TSXV:MTH), (the “Company”, or “Mammoth”) is pleased to announce that following inve
About this update from Mammoth Resources Corp.
[{"type":"text","content":"Toronto, Canada - TheNewswire - January 21, 2021) - Mammoth Resources Corp. (TSXV:MTH), (the “Company”, or “Mammoth”) is pleased to announce that following investor enthusiasm for its recently announced private placement (refer to press release dated January 12, 2021), the Company is increasing the amount of the original placement issuing 6,000,000 common shares for gross proceeds of $600,000, by an additional 885,000 common shares for gross proceeds of an additional $88,500 for a total private placement of 6,885,000 shares issued at a price of $0.10 per share for total gross proceeds of $688,500. The private placement is now closed for further investment and the Company expects closing on this newly announced amount next week, subject to TSX Venture Exchange (“Exchange”) approvals. Thomas Atkins, President and CEO of Mammoth commented on the Private Placement, stating: “We’re very pleased to have had our recently announced private placement so enthusiastically over-subscribed and for this to have occurred so quickly. With the imminent closing of this financing, Mammoth will soon be mobilizing staff to the Tenoriba project to commence activities in preparation for the geophysical survey and other exploration works. We look forward to reporting on results from the various project activities over the coming weeks.” This private placement is available to accredited investors. Securities issued under this private placement will be subject to a four-month hold period. In accordance with the requirements of the Investment Dealer Exemption, the Company confirms there is no material fact or material change related to the Company which has not been disclosed. The private placement is subject to receipt of all required regulatory and Exchange approvals. The Company anticipates paying finder's fees of $4,750 on a portion of the private placement in accordance with applicable securities laws and the policies of the Exchange. About Mammoth Resources: Mammoth Resources (TSX-V: MTH) is a precious metal mineral exploration Company focused on acquiring and defining precious metal resources in Mexico and other attractive mining friendly jurisdictions in the Americas. The Company holds a 100% interest (subject to a 2% net smelter royalty purchasable anytime within two years from commencement of commercial production for US$1.5 million) in the...