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Canada Silver Cobalt Announces the Closing of $3.4 Million Private Placement of Flow-Through Shares
(TheNewswire) Coquitlam, BC – TheNewswire - December 21, 2021 ...
About this update from Nord Precious Metals Mining Inc.
[{"type":"text","content":"Canada Silver Cobalt Announces the Closing of $3.4 Million Private Placement of Flow-Through Shares\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Coquitlam, BC –\n \n \n TheNewswire\n-\n \n \n December 21, 2021 - Canada Silver Cobalt Works\nInc.\n \n \n (TSXV:CCW) (OTC:CCWOF) (Frankfurt:4T9B)\n(the \"\n \n \n Company\n \n \n \" or \"\n \n \n Canada Silver Cobalt\n \n \n \") announces that it\nhas completed its previously announced marketed private placement\noffering by raising total gross proceeds of approximately $3.42\nmillion, including the partial exercise of the option to increase the\nsize of the offering, consisting of: (i) 5,904,578\n \n \n flow-through common shares of the Company (the “\n \n \n Federal\n \n \n FT Shares\n \n \n ”) that\nwill qualify as “flow-through shares” within the meaning of\nsubsection 66(15) of the\n \n \n Income Tax Act\n \n \n (Canada) (the “\n \n \n Tax Act\n \n \n ”), at a\nprice of $0.23 per FT Share, and (ii)\n \n \n 8,595,883\nQuébec flow-through common shares of the Company (the “\n \n \n Québec FT Shares\n \n \n ”)\nthat\n \n \n will qualify as “flow-through shares”\nwithin the meaning of subsection 66(15) of the Tax Act and section\n359.1 of the\n \n \n Taxation\nAct\n \n \n (Québec), at a price of $0.24 per Québec\nFT Share.\n \n \n \n \n The offering was conducted on a \"best\nefforts\" agency basis and was co-led by Research Capital\nCorporation, as sole bookrunner, and Canaccord Genuity Corp. (the\n“\n \n \n Agents\n \n \n ”).\n \n \n \n \n The proceeds from the issue and sale of the Federal FT\nShares and Québec FT Shares will be used to incur Canadian\nExploration Expenses and “flow-through mining expenditures” as\ndefined in subsection 127(9) of the Tax Act and under section 359.1\nof the\n \n \n Taxation\nAct\n \n \n (Québec) (the \"\n \n \n Qualifying Expenditures\n \n \n \") on the Company’s Castle property and Graal\nproperty, which will be incurred on or before December 31, 2022 and\nrenounced with an effective date no later than December 31, 2021 to\nthe initial purchasers of Federal FT Shares and Québec FT Shares in\nan aggregate amount not less than the gross proceeds raised from the\noffering of Federal FT Shares ...