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Murchison Minerals Closes Fully Subscribed $1.5 Million Non-Brokered Private Placement
BURLINGTON, ON / ACCESSWIRE / July 27, 2023 / Murchison Minerals Ltd. ("Murchison" or the "Comp...
About this update from Murchison Minerals Ltd
[{"type":"text","content":"Murchison Minerals Closes Fully Subscribed $1.5 Million Non-Brokered Private PlacementBURLINGTON, ON / ACCESSWIRE / July 27, 2023 / Murchison Minerals Ltd. (\"Murchison\" or the \"Company\") (TSXV:MUR)(OTCQB:MURMF) is pleased to announce that further to its press release dated July 11th, 2023, the Company has closed its CAD $1.5 million non-brokered private placement (the \"Private Placement\") as detailed below.The Company issued 9,000,000 Hard Dollar units (\"HD Units\") at a price of $0.06 per HD Unit, 11,500,715 Quebec flow-through units (\"QFT Units\") at a price of $0.07 per QFT Unit and 2,383,850 National flow-through units (\"NFT Units\") at a price of $0.065 per NFT Unit, to raise aggregate gross proceeds of CAD $1,500,000.30.Each Unit was 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 and NFT Units were 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 $0.10 for a period of 24 months expiring July 26th, 2025.All securities issued under the Private Placement are subject to a hold period expiring on November 27th, 2023, in accordance with applicable securities laws. Proceeds from the private placement will be directed towards exploration at the Company's 100%-owned BMK Zn-Cu-Ag-Pb-Au VMS Project in Saskatchewan, the 100%-owned HPM nickel-copper-cobalt Project in Quebec, working capital and administrative expenses.2023 Exploration ProgramDue to the high level of interest in the Company's high-grade Ni-Cu-Co HPM Project in Quebec and the decrease in the extreme wildfire situation in the Province, the Company has decided to reprioritize work at HPM over the previously announced diamond drill program at it's BMK project in Saskatchewan. The focus for the 2023 Summer Exploration Program will be on the continued de-risking of the HPM Project. The program will consist of ground geophysics and prospecting, developing a pipeline of future drill targets at the HPM Project.Mr. Troy Boisjoli, Murchison Minerals President, CEO, and Director comments:\"The high degree of interest and support the Company received in this private placement speaks to the confidence our share...