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Minsud Announces Closing of Non-Brokered Private Placement for Gross Proceeds of $425,100
Minsud Announces Closing of Non-Brokered Private Placement for Gross Proceeds of $425,100 ...
About this update from Minsud Resources Corp.
[{"type":"text","content":"\n\n\n\nMinsud Announces Closing of Non-Brokered Private Placement for Gross Proceeds of $425,100\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 10, 2019\n\n\n\nTSX-V: MSR\n TORONTO, Dec. 10, 2019 /CNW/ - Minsud Resources Corp. (TSX-V: MSR) (\"Minsud\" or the \"Company\") is pleased to announce the closing of a non-brokered private placement offering of units in Minsud (the \"Units\") for gross proceeds of $425,100 (the \"Private Placement\"). In connection with the closing of the Private Placement, which was initially announced on November 25, 2019, Minsud issued 4,251,000 Units at a price of $0.10 per Unit with each Unit comprising of one common share in the capital of the Company (the \"Shares\") and one common share purchase warrant (the \"Warrants\"). Each Warrant is exercisable into one Share at $0.15 until December 10, 2021.\nThe net proceeds will be used to continue exploring the Chita Valley Project as well as working capital and corporate overhead requirements. \nInsiders of the Issuer purchased an aggregate 2,004,000 Units.  The Company has relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(a) of MI 61-101 in respect of such insider participation.  The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the participation by such insiders was not settled until shortly prior to closing of the Private Placement.\nThe securities issued in connection with the closing of the Private Placement will be subject to a four month hold period expiring on April 11, 2020. No commission or finder's fee was paid in connection with the Private Placement.\nAbout Minsud Resources Corp.:\nMinsud is a mineral exploration company focused on exploring its flagship Chita Valley Cu-Mo-Au-Ag Project, in the Province of San Juan, Argentina. The Company also holds a 100% owned portfolio of selected early stage prospects, including 6,000 ha in Santa Cruz Province, Argenti...