Business
Rackla Metals Announces $2.45 Million Non-Brokered Private Placement
Vancouver, British Columbia – TheNewswire - March 24, 2025 – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is pleased to announce that it proposes to complete
About this update from Rackla Metals Inc.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - March 24, 2025 – Rackla Metals Inc. (TSX-V: RAK) (the “Company”) is pleased to announce that it proposes to complete a non-brokered private placement financing to raise total gross proceeds of up to $2.45 million (the “Offering”). The Offering will consist of a $2.1 million charity flow-through unit offering (the “CFT Offering”) at a price of $0.21 per unit, and a $350,000 hard-dollar unit offering (the “HD Offering”) at a price of $0.15 per unit. Each unit will consist of one common share of the Company and one-half of a warrant, with each whole warrant entitling the holder to purchase one additional common share of the Company at a price of $0.15 for one year following the closing of the Offering. Each common share to be issued in the CFT Offering will qualify as a “flow-through share” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)). The gross proceeds received by the Company under the CFT Offering will be used to incur eligible “Canadian exploration expenses” that qualify as Canadian exploration expenses and “flow-through mining expenditures” for the purposes of the Income Tax Act (Canada) on or before December 31, 2026 (or such other period as may be permissible under applicable tax legislation). Such gross proceeds will be renounced in favour of the purchasers under the CFT Offering with an effective date of not later than December 31, 2025, in the aggregate amount of not less than the total amount of the gross proceeds raised under the CFT Offering. Management proposes to use the proceeds of the Offering for conducting exploration and drilling on the Company’s Tombstone Gold Belt properties within the Selwyn Basin in the coming year, and for continuing investigations of additional mineral properties for acquisition. As well, proceeds from the HD Offering may be used for general working capital and corporate purposes. The closing of the Offering is subject to receipt of approval of the TSX Venture Exchange. The securities to be offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons abse...