Business
Rackla Metals Announces Closing of Private Placement for Gross Proceeds of C$2.8 Million
(TheNewswire) Vancouver, British Columbia – TheNewswire - September 19, 2023...
About this update from Rackla Metals Inc.
[{"type":"text","content":"Rackla Metals Announces Closing of Private Placement for Gross Proceeds of C$2.8 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n September 19, 2023 –\nRackla Metals Inc. (TSXV:RAK) (“\n \n \n Rackla\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) is pleased to announce the closing of its previously\nannounced private placement financing for aggregate gross proceeds of\nC$2,786,475 (the “\n \n \n Offering\n \n \n ”). Under the Offering, the Company\nsold 5,769,000\n \n \n flow-through units of the Company\n(each, a “\n \n \n Flow-Through\nUnit\n \n \n ”) and 4,800,000\n \n \n non-flow-through units of the Company (each, a\n“\n \n \n Hard Unit\n \n \n ”, and together with the Flow-Through Units, the\n“\n \n \n Offered\nSecurities\n \n \n ”).\n \n \n \n \n Each Flow-Through Unit consists of one common share of\nthe Company (each, a “\n \n \n Common\nShare\n \n \n ”)\n \n \n that will\nqualify as a “flow-through share” within the meaning of subsection\n66(15) of the\n \n \n Income Tax Act\n(Canada\n \n \n ) and one Common Share purchase warrant\nof the Company (each, a “\n \n \n Warrant\n \n \n ”). Each Hard Unit consists of one\nCommon Share and one Warrant. Each Warrant will entitle the holder to\nacquire one additional Common Share (each, a “\n \n \n Warrant Share\n \n \n ”) at\na price of C$0.40 per Warrant Share at any time on or before September\n19, 2025.\n \n \n \n \n 3L Capital Inc. and Canaccord Genuity Corp acted as\nco-lead agents and co-bookrunners (together, the “\n \n \n Agents\n \n \n ”). As\nconsideration for acting as Agents, the Company paid to the Agents a\ncash fee of C$122,628.50 (the “\n \n \n Agents’ Fee\n \n \n ”) equal to 6.0% (or 2.0% for\nthose subscribers listed on the “president’s list” (the\n“\n \n \n President’s List\nSubscribers\n \n \n ”)) of the gross proceeds received\nby the Company from the sale of the Offered Securities. In addition to\nthe Agents’ Fee, the Company also granted to the Agents\n456,140\n \n \n compensation options (each, a\n“\n \n \n Compensation\nOp...