Business
Ophir Gold Announces C$1.7 Million Private Placement of Units and Flow-Through Units
Vancouver, British Columbia--(Newsfile Corp. - December 13, 2022) - Ophir Gold Corp. (TSXV: OPHR) (OTCQB: KPZIF) (FSE: 80M) ("Ophir" or the "Company") is please
About this update from Ophir Metals Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 13, 2022) - Ophir Gold Corp. (TSXV: OPHR) (OTCQB: KPZIF) (FSE: 80M) (\"Ophir\" or the \"Company\") is pleased to announce a non-brokered private placement through the issuance of up to 12,000,000 units (each, a \"Unit\") at a price of $0.10 per Unit and up to 3,333,333 flow-through units (\"FT Unit\") at a price of $0.15 per FT Unit for aggregate gross proceeds of up to $1,700,000 (the \"Offering\"). Each Unit shall be comprised of one common share (\"Common Share\") in the capital of the Company and one Common Share purchase warrant (each, a \"Warrant\") of the Company. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.20 per Common Share for a period of two (2) years from date of issuance. Each FT Unit shall be comprised of one Common Share, issued on a flow-through basis (\"FT Share\") and one Common Share purchase warrant, issued on a non-flow-through basis (each, a \"FT Warrant\"). Each FT Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.22 per Common Share for a period of two (2) years from date of issuance. The FT Shares will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The Company may pay finder's fees in accordance with the rules and policies of the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The net proceeds from the sale of the Units will be used for exploration work on the Company's Breccia Gold Property and general working capital purposes. The gross proceeds from the sale of the FT Units will be used by the Company to incur eligible \"Canadian exploration expenses\" that will qualify as \"flow-through expenditures\" as such terms are defined in the Income Tax Act (Canada). The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be reg...