Prospector Upsizes Previously Announced Flow-Through Private Placement

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[{"type":"text","content":"Prospector Upsizes Previously Announced Flow-Through Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 20, 2023) - Prospector Metals Corp. (\"Prospector\" or the \"Company\") (TSXV: PPP) (FSE: 1ET0) is pleased to announce that, as a result of demand, it has increased the size of its previously announced non-brokered private placement of flow-through units. Prospector will now raise aggregate gross proceeds of up to $1,145,000, per the terms described in the February 21, 2023 press release (the \"Offering\").Prospector intends to use the gross proceeds of the Offering for a diamond drilling program at the Company's Whitton Ni-Cu Project in Ontario, anticipated to begin at the beginning of April, and for advancing the Company's portfolio of nickel and gold projects in Ontario.The Offering is subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals including the conditional listing approval of the TSX Venture Exchange. The Company may pay finders' fees under the offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The securities issued under the Offering will be subject to a hold period under applicable securities laws in Canada expiring four months and one day from the closing date of the Offering.The FT Shares will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\"). An amount equal to the gross proceeds from the issuance of the FT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) \"Canadian exploration expenses\" (as defined in the Tax Act), and (ii) as \"flow-through critical mineral mining expenditures\" (as defined in subsection 127(9) of the Tax Act) (collectively, the \"Qualifying Expenditures\"). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issue of the FT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2024 and will be renounced by the Company to the initial purchasers of the FT Shares with an effective date no later than December 31, 2023.Members of the Company's management team may participate in the Offering including subscriptions from related parties of the Company as defined in Multilateral ...

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