Business
Central Timmins Closes Private Placement
Central Timmins Closes Private Placement Canada NewsWire TORONTO, July 28, 2020 ...
About this update from P2 Gold Inc.
[{"type":"text","content":"\n\n\n\nCentral Timmins Closes Private Placement\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 28, 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 28, 2020 /CNW/ - Central Timmins Exploration Corp. (\"CTEC\" or the \"Company\") (TSXV: CTEC) reports that it has closed the non-brokered private placement (the \"Private Placement\") (see news releases dated July 14, 2020 and July 17, 2020) for gross proceeds of $3.5 million.\n\n \n \n \n \n \n \n\n \nIn closing the Private Placement, the Company issued 4.6 million non-flow-through units (the \"Units\") of the Company at a price of $0.50 per Unit for gross proceeds of $2.3 million and 2.0 million flow-through common shares (the \"FT Shares\") in the capital of the Company at a price of $0.60 per FT Share for gross proceeds of $1.2 million.\nEach Unit consists of one non-flow-through common share in the capital of the Company and one non-flow-through common share purchase warrant (a \"Warrant\").  Each Warrant entitles the holder to purchase one additional non-flow-through common share in the capital of the Company at an exercise price of $0.75 per common share for a period of two years from the date of issue (the \"Expiry Time\"), provided that, if after four months from the date of issue, the closing price of the common shares of the Company on the Exchange is equal to or greater than $1.25 for a period of 10 consecutive trading days at any time prior to the Expiry Time, the Company will have the right to accelerate the Expiry Time of the Warrants by giving notice to the holders of the Warrants by news release or other form of notice permitted by the certificate representing the Warrants that the Warrants will expire at 4:30 p.m. (Vancouver time) on a date that is not less than 15 days from the date notice is given.\nThe gross proceeds of the offering of FT Shares will be used to fund ex...