Business
Central Timmins Announces Flow-Through and Non-Flow-Through Financing
Central Timmins Announces Flow-Through and Non-Flow-Through Financing Canada NewsW...
About this update from P2 Gold Inc.
[{"type":"text","content":"\n\n\n\nCentral Timmins Announces Flow-Through and Non-Flow-Through Financing\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\nCanada NewsWire\nTORONTO, July 14, 2020\n\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 THE UNITED STATES./\n TORONTO, July 14, 2020 /CNW/ - Central Timmins Exploration Corp. (\"CTEC\" or the \"Company\") (TSXV: CTEC) reports that it intends to complete a non-brokered private placement of flow-through common shares (the \"FT Offering\") and non-flow-through units (the \"NFT Offering\") (together, the FT Offering and NFT Offering are the \"Private Placement\").\n\n \n \n \n \n \n \n\n \nFlow-Through Offering\nThe FT Offering will consist of up to 2,800,000 common shares in the capital of the Company (the \"Flow-Through Shares\") that qualify as flow-through shares for purposes of the Income Tax Act (Canada), at a price of $0.75 per Flow-Through Share for gross proceeds of up to $2.1 million.\nThe gross proceeds of the FT Offering will be used to fund exploration expenditures on the Silver Reef Property (see News Release of June 11, 2020), BAM Property (see News Release of July 2, 2020), Todd Creek Property (see News Release of July 9, 2020) and other Canadian Exploration Expenses that will qualify as \"flow through mining expenditures\" as defined in subsection 127(9) of the Income Tax Act (Canada), and \"BC flow-through mining expenditures\", as defined in the Income Tax Act (British Columbia).\nThe FT Offering will close on completion of documentation and is conditional upon receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the \"Exchange\").\nNon-Flow-Through Offering\nThe NFT Offering will consist of up to 3,000,000 non-flow-through units (the \"Units\") at a price of $0.50 per unit for gross proceeds of up to $1.5 million. Each Unit will consist of one non-flow-through common share in the capital of the Company and one non-flow-th...