Business
Minsud Announces Closing of Non-Brokered Private Placement for Gross Proceeds of $527,800
Minsud Announces Closing of Non-Brokered Private Placement for Gross Proceeds of $527,800 ...
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 $527,800\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, March 13, 2019\n\n\n\nTSX-V: MSR\n TORONTO, March 13, 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 $527,800 (the \"Private Placement\"). In connection with the closing of the Private Placement, which was initially announced on February 25, 2019, Minsud issued 5,278,000 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 March 13, 2021.\nThe net proceeds will be used to continue exploring the Cu-Mo-Ag-Au deposit at the Chita Valley Project, payments related to option agreements and financing of mining rights acquisitions, as well as working capital and corporate overhead requirements.\nInsiders of the Issuer purchased an aggregate of 2,667,000 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 July 14, 2019. 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 ...