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Walcott Resources Announces Closing of C$400,000 Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2020) - Walcott Resources Ltd. (CSE: WAL) (the "Company" or "Walcott") is pleased to announce, further
About this update from Megawatt Lithium And Battery Metals Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - August 6, 2020) - Walcott Resources Ltd. (CSE: WAL) (the \"Company\" or \"Walcott\") is pleased to announce, further to its press release dated July 9, 2020, that it has closed its non-brokered private placement of up to 4,000,000 units (each, a \"Unit\") of the Company at a price of $0.10 per Unit for aggregate proceeds of $400,000 (the \"Private Placement\"). Each Unit consisted of one common share of the Company and one non-transferable share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share at an exercise price of $0.15 per share for a period of 24 months from the date of the closing. All of the securities issued in connection with the Private Placement are subject to a statutory four-month hold expiring on December 7, 2020. The Warrants are subject to an accelerated expiry date, which comes into effect when the trading price on the Canadian Securities Exchange of the Company's common shares closes at or above $0.22 per share during any 20-day-consecutive-trading-day period commencing four months plus one day after the date of issuance of the Warrants. In such event, the Company may give an expiry acceleration notice to warrant holders and the expiry date of the Warrants will be 30 days from the date of the notice. The Company intends to use the net proceeds from the Private Placement for exploration activities on the Cobalt Hill copper- gold-cobalt property and for general working capital purposes. The Private Placement is subject to final acceptance by the Canadian Securities Exchange upon filing of the final documentation. About Walcott Resources Ltd. Walcott is a British Columbia based Company involved in the acquisition and exploration of mineral properties in Canada. The Company holds an option to acquire a 100% undivided interest, subject to a 1.5% NSR on all base, rare earth elements and precious metals, in the Cobalt Hill copper-gold-cobalt property (the \"Property\"), consisting of eight mineral claims covering an area of approximately 1,727.43 hectares located in the Trail Creek Mining Division in the Province of British Columbia, Canada. The Company's objective is to explore and develop the Property. On behalf of the board of directors, Marshall Farris, Chief Executive OfficerEmail: marshall@ascentafinan...