Business
Rackla Metals announces increase in non-brokered private placement to $2.99 million
(TheNewswire) V ancouver, British Columbia – March 31, 2025 – TheNews...
About this update from Rackla Metals Inc.
[{"type":"text","content":"Rackla Metals announces increase in non-brokered private placement to $2.99 million\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n V\n \n\n ancouver, British Columbia –\nMarch 31, 2025 –\n \n\n TheNewswire -\n \n\n Rackla Metals Inc. (TSX-V: RAK) (the “\n \n\n Company\n \n\n ”) is\npleased to announce that it has increased its previously announced\nnon-brokered private placement (the “\n \n\n Offering\n \n\n ”).  The\nOffering will now raise total gross proceeds of up to $2,994,150.\n The Offering will consist of a $2,234,400 charity flow-through unit\noffering (the “\n \n\n CFT\nOffering\n \n\n ”) at a price of $0.21 per unit, and a\n$759,750 hard-dollar unit offering (the “\n \n\n HD Offering\n \n\n ”) at a\nprice of $0.15 per unit.\n \n\n\n\n Each unit will consist of one common share of the\nCompany and one-half of a warrant, with each whole warrant entitling\nthe holder to purchase one additional common share of the Company at a\nprice of $0.15 for one year following the closing of the Offering.\n Each common share to be issued in the CFT Offering 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)).\n \n\n\n\n The gross proceeds received by the Company under the\nCFT Offering will be used to incur eligible “Canadian exploration\nexpenses” that qualify as Canadian exploration expenses and\n“flow-through mining expenditures” for the purposes of the\n \n\n Income Tax Act\n \n\n (Canada) on or before December 31, 2026 (or such other\nperiod as may be permissible under applicable tax legislation).  Such\ngross proceeds will be renounced in favour of the purchasers under the\nCFT Offering with an effective date of not later than December 31,\n2025, in the aggregate amount of not less than the total amount of the\ngross proceeds raised under the CFT Offering.\n \n\n\n\n Management proposes to use the proceeds of the Offering\nfor conducting exploration and drilling on the Company’s Tombstone\nGold Belt properties within the Selwyn Basin in the coming year, and\nfor continuing investigations of additional mineral properties for\nacquisition.  As well, procee...