Business
Rackla Metals Announces $3 Million Private Placement of Units and Flow-Through Units
(TheNewswire) Not for distribution to U.S. news wire services or dissemination in the Unite...
About this update from Rackla Metals Inc.
[{"type":"text","content":"Rackla Metals Announces $3 Million Private Placement of Units and Flow-Through Units\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Not for distribution to U.S. news\nwire services or dissemination in the United States.\n \n \n \n \n Vancouver, British Columbia –\n \n \n TheNewswire -\n \n \n August 28, 2023 –\nRackla Metals Inc. (TSXV:RAK)\n \n \n (“\n \n \n Rackla\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) is pleased to announce that it has entered into a letter\nagreement with 3L Capital Inc. and Canaccord Genuity Corp., as co-lead\nagents and co-bookrunners (together, the “\n \n \n Agents\n \n \n ”), to sell,\non a “best efforts” agency basis,\n \n \n up to\n$3,000,000 in equity securities of the Company consisting of a\ncombination of\n \n \n (a) units of the Company\n(“\n \n \n Flow-Through\nUnits\n \n \n ”) at a price of $0.275 per Flow-Through\nUnit, with each Flow-Through Unit consisting of one common share in\nthe capital of the Company (a “\n \n \n Common Share\n \n \n ”) that will qualify as a\n“flow-through share” (within the meaning of subsection 66(15) of\nthe\n \n \n Income Tax\nAct\n \n \n (Canada) and one Common Share purchase\nwarrant of the Company (a “\n \n \n Warrant\n \n \n ”); and (b) units of the Company\n(“\n \n \n Hard\n \n \n Units\n \n \n ” and,\ntogether with the Flow-Through Units, the “\n \n \n Offered Securities\n \n \n ”) at a price of $0.25 per Hard Unit, with each Hard Unit\nconsisting of one Common Share and one Warrant\n \n \n (the “\n \n \n Offering\n \n \n ”).\n \n \n Each Warrant will entitle the\nholder to acquire one additional Common Share at a price of $0.40 for\na period of two years following the Closing Date (as defined herein).\n \n \n A minimum of $500,000 will be raised from the\nsale of Hard Units\n \n \n .\n \n \n \n \n The net proceeds received by the Company from the sale\nof the Flow-Through Units will be used to incur eligible “Canadian\nexploration expenses” (“\n \n \n CEE\n \n \n ”) that qualify as Canadian exploration\nexpenses and “flow-through mining expenditures” for purposes of\nthe\n \n \n Income Tax\nAct\n \n \n (Canada) on or be...