Business
Morocco Strategic Minerals Closes Private Placement for a total amount of $1,000,0000
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES ...
About this update from Morocco Strategic Minerals Corporation
[{"type":"text","content":"Morocco Strategic Minerals Closes Private Placement for a total amount of $1,000,0000\n\n\n\n\n\n NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES\n \n\n\n\n MONTRÉAL, Feb. 26, 2025 (GLOBE NEWSWIRE) -- Morocco Strategic Minerals Corporation. (TSXV: MCC) (\"Morocco Strategic Minerals\" or the \"Corporation\") is pleased to announce the closing of a non-brokered private placement, raising total gross proceeds of $1,000,000 through the issuance of 10,000,000 units of the Corporation (\"Units\") at a price of $0.10 per Unit (the \"Offering\").\n \n\n Each Unit consists in one common share of the Corporation (a “Common Share”) and one half of one Common Share purchase warrant (a “Warrant”). Each whole Warrant entitles its holder to purchase one Common Share at an exercise price of $0.15 per Common Share for a period of 24 months.\n \n\n All securities issued in connection with the Offering are subject to a statutory hold period ending four-month and one day from the date of their issuance, in accordance with applicable securities laws. The Offering remains subject to final approval from the TSX Venture Exchange (“TSXV”).\n \n\n In connection with the completion of the Offering, the Corporation expects to pay finder’s fees in an aggregate amount of $70,000 and issue a total of 700,000 Warrants to arm’s length third parties who assisted the Corporation by introducing subscribers to the Offering.\n \n\n The Corporation intends to allocate the net proceeds from the Offering towards the development of the Corporation's portfolio in Québec and Morocco, encompassing potential growth opportunities, as well as for general working capital purposes.\n \n\n The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “\n \n U.S. Securities Act\n \n ”) or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.\n \n\n\n PDAC Convention\...