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Murchison Minerals Announces $5,500,000 Non-Brokered Private Placement with Continued Support of Strategic Investor Michael Gentile and Largest Shareholder Donald K. Johnson
BURLINGTON, ON / ACCESSWIRE / June 2, 2022 / Murchison Minerals Ltd. ("Murchison" or the "Com...
About this update from Murchison Minerals Ltd
[{"type":"text","content":"Murchison Minerals Announces $5,500,000 Non-Brokered Private Placement with Continued Support of Strategic Investor Michael Gentile and Largest Shareholder Donald K. JohnsonBURLINGTON, ON / ACCESSWIRE / June 2, 2022 / Murchison Minerals Ltd. (\"Murchison\" or the \"Company\") (TSXV:MUR), (OTCQB:MURMF) is pleased to announce that, subject to all regulatory approvals, it intends to raise up to $5,500,000 in a non-brokered private placement (the \"Offering\"), with the proceeds directed towards drilling at the Company's 100%-owned HPM nickel-copper-cobalt property in Eastern Quebec, working capital and administrative expenses. It is anticipated that strategic investor Mr. Michael Gentile and Murchison's largest shareholder Mr. Donald K. Johnson will participate in the Offering maintaining their current ownership positions.Pursuant to the Offering, the Company will issue Hard Dollar units (\"HD Units\") at a price of $0.09 per HD Unit, Quebec flow-through units (\"QFT Units\") at a price of $0.105 per QFT Unit and Quebec Charity flow-through units (\"QCFT Units\") at a price of $0.14 per QCFT Unit, in any combination to raise aggregate gross proceeds of up to $5,500,000.Each HD Unit will be comprised of one common share of the Company (a \"Common Share\") and one-half of a common share purchase warrant (each whole warrant, a \"Warrant\") and each QFT Unit and QCFT Unit will be comprised of one flow-through common share of the Company (a \"FT Common Share\") and one-half of a Warrant. Each whole Warrant shall be exercisable to acquire one additional Common Share at a price of $0.18 for a period of 18 months from the date of closing of the Offering.A finder's fee may apply to a portion of the proceeds raised under the Offering in the amount of 6% cash and 6% finders' warrants. All securities issued pursuant to the Offering will be subject to a four month hold period from the date of issue.In the event that the volume weighted average price (\"VWAP\") of the Common Shares on the TSX Venture Exchange (the \"TSXV\") is greater than CDN$0.225 for 20 consecutive trading days, the Company may give notice to the holders of the Warrants that the expiry time of the Warrants has been accelerated and the Warrants will expire on the 30th business day following the date of such notice.It is anticipated that Donald K. Johnson, a director and contro...