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Sokoman Minerals Files for Exchange Approval to Close Non-Brokered Private Placement
ST. JOHNS, NL / ACCESSWIRE / December 14, 2020 / Sokoman Minerals Corp. ('Sokoman' or 'the Company') (TSX.V:SIC) (OTCQB:SICNF) today announces that it has filed
About this update from Pirate Gold Corp
[{"type":"text","content":" ST. JOHNS, NL / ACCESSWIRE / December 14, 2020 / Sokoman Minerals Corp. ('Sokoman' or 'the Company') (TSX.V:SIC) (OTCQB:SICNF) today announces that it has filed documents with the TSX Venture Exchange seeking final approval for its non-brokered private placement of flow-through units (the \"Private Placement\") announced on December 2, 2020. On receipt of all regulatory approvals, the Company will issue 15,000,000 flow-through units at a price of $0.20 per flow-through unit, each consisting of 1 flow-through common share of the Company for aggregate gross proceeds of $3,000,000, including $48,500 taken by the insiders of the Company. The flow-through shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada). Upon receipt of regulatory approval and in connection with the private placement, the Company will pay $164,397 in finders' fees and will issue 764,550 broker warrants exercisable at $0.20 for 12 months from the date of issue, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period. The proceeds of this financing will be directed towards advancing the Company's flagship Moosehead Gold Project. About Sokoman Minerals Corp. Sokoman Minerals Corp. is a discovery-oriented company with projects in Newfoundland & Labrador, Canada. The Company's primary focus is its portfolio of gold projects (Moosehead, Crippleback Lake and East Alder) in Central Newfoundland on the structural corridor hosting Marathon Gold's Valentine Lake project. Valentine Lake is reported to host estimated Proven and Probable Mineral Reserves of 1.87 Moz (41.05 Mt at 1.41 g/t Au), and Total Measured and Indicated Mineral Resources (inclusive of the Mineral Reserves) of 3.09 Moz (54.9 Mt at 1.75 g/t Au). Additional Inferred Mineral Resources are 0.96 Moz (16.77 Mt at 1.78 g/t Au). Reserves and resource totals for the Valentine Lake Project are taken from the Marathon Gold website, November 16, 2020. The Company also has a 100% interest in an early-stage antimony/gold project in Newfoundland optioned to White Metal Resources Inc. In Labrador, the Company has a 100% interest in the Iron Horse (Fe) project. Mineralization hosted on adjacent and/or nearby propertie...