Business
Precipitate Announces Upsizing of Private Placement of Flow Through and Non-Flow Through Units
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2021) - Precipitate Gold Corp. (...
About this update from Precipitate Gold Corp.
[{"type":"text","content":"Precipitate Announces Upsizing of Private Placement of Flow Through and Non-Flow Through UnitsVancouver, British Columbia--(Newsfile Corp. - December 20, 2021) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the \"Company\" or \"Precipitate\") is pleased to announce that due to significant investor demand, further to its December 7, 2021 news release, the Company has increased the total gross amount of the previously announced private placement of flow-through and non-flow-through units from C$750,000 to up to C$1,800,000 (the \"Offering\").As previously disclosed, the Offering will consist of two parts:flow-through units at $0.10 per unit, each unit consisting of one flow-through common share and one-half of a warrant, each whole warrant exercisable at $0.15 per share for 24 months; andnon-flow-through units at $0.09 per unit, each unit consisting of one non-flow-through common share and one-half of a warrant, each whole warrant exercisable at $0.15 per share for 24 months. The proceeds from the Offering will be used for exploration and development of the Company's mineral property interests in Newfoundland, Canada, and for general working capital purposes. The gross proceeds from the issuance of all flow-through shares will be used to incur Canadian Exploration Expenses (\"CEE\"), and will qualify as \"flow-through mining expenditures\" under the Income Tax Act (Canada), which will be renounced to the purchasers of flow-through shares with an effective date no later than December 31, 2021 in an aggregate amount no less than the proceeds raised from the issue of the flow-through shares.Closing of the Offering is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange. All securities issued under the Offering will be subject to a statutory hold period of four months plus a day following the date of closing. Red Cloud Securities Inc. is acting as a finder in connection with the flow through component of the Offering. The Company may pay additional finder's fees on a portion of the Offering, subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation. The Offering is being made available to all existing shareholders of the Company, pursuant to BCI 45-534 - Exemption from Pr...