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Sokoman Announces Over-Subscription of Non-Brokered?Flow-Through Private Placement
ST. JOHN'S, NL / ACCESSWIRE / December 22, 2022 / Sokoman Minerals Corp. ("Sokoman" or the "Comp...
About this update from Pirate Gold Corp
[{"type":"text","content":"\nSokoman Announces Over-Subscription of Non-Brokered Flow-Through Private PlacementST. JOHN'S, NL / ACCESSWIRE / December 22, 2022 / Sokoman Minerals Corp. (\"Sokoman\" or the \"Company\") (TSXV:SIC)(OTCQB:SICNF) today announces that, due to high demand, the Company is increasing the maximum amount for the flow-through private placement announced on December 8, 2022 (the \"Private Placement\") from $3,000,000 to $4,142,752On receipt of TSX Venture Exchange (the \"Exchange\") approval, the Company will issue 14,795,544 flow-through shares units (\"FT Units\") at a price of $0.28 for gross proceeds of $4,142,752. Each FT Unit consists of one (1) common share of the Company and one half (1/2) of one common share purchase warrant (the \"FT Warrant\"), with each full FT Warrant entitling the holder to purchase one non-flow-through common share of the Company at a price of $0.36 for a period of 18 months after the closing of the Private Placement. The FT Units will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).All securities issued pursuant to this financing will be subject to a four-month plus one-day hold.In connection with the Private Placement, the Company is paying finders' fees as permitted by the policies of the TSX Venture Exchange.  The net proceeds of the flow-through will be used for project exploration work on the Company's properties that it controls that will qualify for Canadian Exploration Expenses under the Income Tax Act (Canada). The Company intends to spend approximately 25% of the gross proceeds on the Golden Hope (Kraken Lithium Pegmatite Field) joint venture project, and the remaining balance on its flagship Moosehead Gold project.Tim Froude, Sokoman's President & CEO, commented: \"We are very pleased to have received the overwhelming support and participation from new and existing shareholders alike.\"About Sokoman Minerals Corp.Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold projects; the 100%-owned flagship, advanced-stage Moosehead, as well as Crippleback Lake; and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold ...