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Northisle Announces Closing of Oversubscribed $7.1M Private Placement
Northisle Announces Closing of Oversubscribed $7.1M Private Placement Canada Ne...
About this update from Northisle Copper And Gold Inc.
[{"type":"text","content":"\n \n \n \n Northisle Announces Closing of Oversubscribed $7.1M Private Placement\n \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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSX Venture Exchange Symbol: NCX\n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO\n \n THE UNITED STATES\n \n /\n \n \n \n VANCOUVER, BC\n \n ,\n \n March 18, 2021\n \n /CNW/ - Northisle Copper and Gold Inc. (TSXV: NCX) (\"Northisle\" or the \"Company\") is pleased to announce that it has closed the Company's previously announced non-brokered private placement (the \"Placement\").\n \n \n \n \n \n \n \n \n \n Pursuant to the Placement, the Company issued 21,473,243 common shares of the Company (the \"Common Shares\") consisting of: (i) 2,240,780 Common Shares at a price of\n \n C$0.262\n \n per Common Share (the \"NFT Offering\"); (ii) 11,329,472 Common Shares that qualify as \"flow-through shares\" for purposes of the Income Tax Act (\n \n Canada\n \n ) (the \"Tax Act\") at a price of\n \n $0.31\n \n per Common Share (the \"FT Offering\"); and (iii) 7,902,991 Common Shares that qualify as \"flow-through shares\" for purposes of the Tax Act at a price of\n \n $0.38\n \n per Common Share (the \"Charity FT Offering\" and together with the NFT Offering and the FT Offering, the \"Offering\") for gross proceeds to the Company of approximately\n \n C$7,102,357\n \n . The Common Shares issued pursuant to the Placement are subject to a four month hold period in accordance with applicable Canadian securities laws.\n \n \n The gross proceeds from the FT Offering and Charity FT Offering will be used to incur expenses (\"qualifying expenses\") that are eligible \"Canadian exploration expenses\" and \"flow-through mining expenditures\" within the meaning of subsection 66.1(6) and subsection 127(9) of the Tax Act, respectively, and will also be eligible for\n \n British Columbia's\n \n 20% flow-through share tax credit. The net proceeds from the NFT Offe...