Business
Prismo Metals Announces Non-Brokered Private Placement of up to $2 Million
Vancouver, British Columbia--(Newsfile Corp. - December 7, 2021) - Prismo Metals Inc. (CSE: PRIZ) ("Prismo" or the "Company") is pleased to announce a non-broke
About this update from Prismo Metals Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 7, 2021) - Prismo Metals Inc. (CSE: PRIZ) (\"Prismo\" or the \"Company\") is pleased to announce a non-brokered private placement (the \"Offering\") for gross proceeds of up to $2 million from the sale of units of the Company (each, a \"Unit\") at a price of C$0.30 per Unit. Red Cloud Securities Inc. is acting as a finder in connection with the Offering. Each Unit will consist of one common share of the Company (each, a \"Share\") and one-half of one common share purchase warrant (each, a \"Warrant\"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a \"Warrant Share\") at a price of C$0.45 for a period of 24 months following the closing date of the Offering (the \"Closing Date\"). The Offered Securities will be offered by way of the \"accredited investor\" and \"minimum amount investment\" exemptions under National Instrument 45-106 - Prospectus Exemptions in all the provinces of Canada, and the Units may be sold to offshore jurisdictions and in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended (collectively, the \"Selling Jurisdictions\"). The Shares, Warrants and Warrant Shares will be subject to a four-month hold period in Canada following the Closing Date (as defined herein). At the Closing Date, the Company may pay to a finder a commission equal to 7.0% of the gross proceeds (the \"Finder's Commission\") from the sale of Offered Securities to the identified parties, and it may issue warrants of the Company (the \"Finder's Warrants\") exercisable at any time from the closing date to the day prior to the date that is 24 months following the Closing Date to at a price of $0.30 per common share, in amount equal to 7.0% of the aggregate number of Offered Securities sold to the identified parties. The proceeds from the Offering will be used by the Company to complete a 4,000 meter drilling campaign on its Palos Verdes property, conduct exploration on its Los Pavitos property with a view of identifying drilling targets and for general working capital. Closing of the Offering is scheduled to occur on or about December 22, 2021 and is subject to the approval of the Canadian Securities Exchange (the \"CSE\") ...