Business
Mink Ventures Closes Second Tranche of Private Placement
Toronto, Ontario--(Newsfile Corp. - August 3, 2023) - MINK Ventures Corporation (TSXV: MINK) ("M...
About this update from Mink Ventures Corp.
[{"type":"text","content":"Mink Ventures Closes Second Tranche of Private PlacementToronto, Ontario--(Newsfile Corp. - August 3, 2023) - MINK Ventures Corporation (TSXV: MINK) (\"MINK\" or the \"Company\") is pleased to announce that it has closed the second tranche of the non-brokered private placement announced on June 21, 2023 (the \"Private Placement\"). The second tranche raised gross proceeds of $96,774.84 from the issuance of 293,166 hard dollar units (the \"HD Units\") at a price of $0.15 per HD Unit and the issuance of 293,333 flow-through units (the \"FT Units\") at a price of $0.18 per FT Unit. The total gross proceeds raised from both tranches of the Private Placement was $323,509.74. Each HD Unit consists of one common share of the Company (a \"Common Share\") and one Common Share purchase warrant (\"HD Warrant\"). Each HD Warrant entitles the holder thereof to acquire one (1) Common Share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20 for the first eighteen (18) months and an exercise price of $0.25 for the remaining eighteen (18) months. Each FT Unit consists of one Common Share of the Company (a \"FT Share\") and one Common Share purchase warrant (\"FT Warrant\"). Each FT Warrant entitles the holder thereof to acquire one (1) Common Share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20 for the first eighteen (18) months and an exercise price of $0.25 for the remaining eighteen (18) months. The Company paid aggregate finder's fees for both tranches totaling $17,880.45 in cash and 112,105 finder's warrants (the \"Finder's Warrants\"). Each Finder's Warrant entitles the holder thereof to acquire one (1) Common Share of the Company for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.20 for the first eighteen (18) months and an exercise price of $0.25 for the remaining eighteen (18) months. All finder's fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies. All securities issued in this closing of the Private Placement are subject to statutory four month plus a day, hold periods expiring on December 4, 2023. The Private Placement remains subject to obtaining final approval of the TSX Venture Exchange.The FT Shares were issued as \"fl...