Business
Medaro Mining Announces Closing of Oversubscribed C$4.52 Million Non-Brokered Private Placement
VANCOUVER, BC / ACCESSWIRE / November 17, 2021 / Medaro Mining Corp. (CSE:MEDA)( OTC PINK:MEDAF) (FWB:1ZY) ("Medaro" or the "Company"), a multi-faceted venture
About this update from Medaro Mining Corp.
[{"type":"text","content":" VANCOUVER, BC / ACCESSWIRE / November 17, 2021 / Medaro Mining Corp. (CSE:MEDA)( OTC PINK:MEDAF) (FWB:1ZY) (\"Medaro\" or the \"Company\"), a multi-faceted venture aimed at developing innovative spodumene processing technology concurrent with its clean-energy focused exploration on properties located across Canada, is pleased to announce that it has closed its oversubscribed private placement (the \"FT Financing\"), issuing an aggregate of 6,459,899 flow-through units (each, an \"FT Unit\") at a price of $0.70 per FT Unit, raising gross proceeds of $4,521,929. Each FT Unit is composed of one (1) common share (a \"Share\"), issued on a flow-through basis pursuant to the Income Tax Act (Canada), and one-half of one (1/2) transferable common share purchase warrant (each whole warrant, a \"Warrant\"). Each full Warrant is exercisable at $0.90 per share for two years from issuance. The Company intends to use the net proceeds of the FT Financing for qualifying exploration at its properties in Ontario, Quebec and Saskatchewan. In conjunction with the financing, an aggregate of $188,786 in finder's fees and 269,694 non-transferable finder warrants (each, a \"Finder's Warrant\") were paid to finders. Each Finder's Warrant is exercisable into one (1) common share at $0.90 for a period of two years from the date of issuance. The FT Units issued under the FT Financing are subject to a four-month and one-day hold period, which expires March 17, 2022. Additional details respecting the FT Financing can be found in the Form 9 filed in accordance with the rules of the Canadian Securities Exchange, a copy of which is available at www.thecse.com under the Company's profile. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful. ON BEHALF OF THE BOARD OF DIRECTORSFaizaan LalaniPresident & Director About Medaro Mining Corp. (CSE:MEDA) (OTC PINK:MEDAF) (FWB:1ZY) Medaro Mining is a lithium exploration company based in Vanc...