Business
Hawthorn Resources Announces Closing of C$4 Million Subscription Receipt Financing
Vancouver, British Columbia--(Newsfile Corp. - June 24, 2025) - Hawthorn Resources Corp. (CSE: HWTN) ("Hawthorn" or the "Company") is pleased to announce that i
About this update from Prince Silver Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - June 24, 2025) - Hawthorn Resources Corp. (CSE: HWTN) (\"Hawthorn\" or the \"Company\") is pleased to announce that it has closed its previously announced subscription receipt (the \"Subscription Receipts\") offering (the \"Offering\"). Under the Offering, the Company issued an aggregate of 14,807,315 Subscription Receipts at a price of $0.27 per Subscription Receipt for aggregate proceeds of $3,997,975.05 (the \"Subscription Proceeds\"). Each Subscription Receipt, upon the satisfaction of certain conditions (the \"Escrow Release Conditions\") related to the Company's previously announced proposed acquisition of Stampede Metals Corporation (the \"Acquisition\") on or before the escrow release deadline of July 31, 2025 or such later date as the escrow agent and the Company agree (the \"Escrow Release Deadline\"), will be automatically converted, without payment of any additional consideration and without any further action on the part of the holder thereof, into a unit (a \"Unit\"), comprised of one post 1:0.75 consolidation (the \"Consolidation\") common share of the Company and one-half of one share purchase warrant. Each whole warrant will be exercisable to acquire a post-Consolidation common share at a price of $0.40 per share until December 23, 2026, subject to acceleration in the event that the post-Consolidated common shares of the Company trade at or above $0.60 for ten consecutive trading days. If the Escrow Release Conditions are not met by the Escrow Release Deadline, the aggregate Subscription Proceeds will be returned to subscribers without deduction. President Ralph Shearing, P.Geol. of Hawthorn Resources, commented: \"With nearly $4 million in financing received, upon completion of our acquisition of the Prince Silver Project, Hawthorn is fully funded to execute on our 2025 exploration priorities. We're excited to advance the Prince Silver Project — a near-surface CRD deposit with historic production, strong silver-gold-zinc-manganese mineralization identified in over 129 historic drill holes with excellent exploration expansion potential. In connection with the Offering, upon conversion of the Subscription Receipts into the underlying Units, the Company will pay finders fees of $98,309.98 to eligible registrants assisting in the Offering and issue an aggregate o...