Business
Ethos Provides Update on Financing, Name Change, and Consolidation
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2022) - Ethos Gold Corp. (TSXV: ECC...
About this update from Prospector Metals Corp
[{"type":"text","content":"Ethos Provides Update on Financing, Name Change, and ConsolidationVancouver, British Columbia--(Newsfile Corp. - April 1, 2022) - Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) (\"Ethos\" or the \"Company\") is pleased to announce that, as a result of demand, it has increased the size of its previously announced non-brokered private placements of non-flow-through units and flow through shares. Ethos will now raise aggregate gross proceeds of up to $3,462,000 per the terms described in the March 8, 2022 press release, and will also include a Quebec flow through component of Quebec flow through common shares at a price of $0.75 per Common Share (the \"QC FT Offering\") which will be issued on a post consolidated basis.The gross proceeds of the QC FT Offering will be used by the Company to incur \"Canadian exploration expenses\" that will qualify as \"flow-through mining expenditures\" within the meaning of the Income Tax Act (Canada) related to the Company's projects in Québec which will be renounced to the initial purchasers of the QC FT Offering. The Company may pay finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. All securities issued in the offerings will be subject to a statutory four month hold period. Closing of the private placements are subject to receipt of all regulatory approvals, including approval of the TSX Venture Exchange.This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.Name ChangeThe Company also announces that pursuant to directors resolutions dated March 17, 2022 and following the receipt of all necessary approvals, effective April 6, 2022, the Company's name will be officially changed to Prospector Metals Corp. (\"Prospector\"), and Prospector's common shares will start trading on the TSX Venture Exchange under the ticker symbol \"PPP\".ConsolidationFurther to its n...