Business
Rackla Metals completes $3.4 million private placement
(TheNewswire) Vancouver, BC - TheNewswire - December 22, 2022 - ...
About this update from Rackla Metals Inc.
[{"type":"text","content":"Rackla Metals completes $3.4 million private placement\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 Vancouver,\n \n \n BC\n \n \n -\n \n \n TheNewswire -\n \n \n December 22, 2022 -\n \n \n Rackla Metals Inc. (TSXV:RAK) (the “\n \n \n Company\n \n \n ”) is\npleased to announce that\n \n \n it has closed\n \n \n its previously announced private placement\nfinancing with the issuance of 11,365,000 flow-through units at $0.285\neach (the “\n \n \n FT\nUnits\n \n \n ”) for gross proceeds of $3,239,025 (the\n“\n \n \n FT Offering\n \n \n ”) and 1,250,000 hard-dollar units at a price of $0.20 each\n(the “\n \n \n HD Units\n \n \n ”)\n \n \n for gross proceeds of $250,000\n(the\n \n \n “HD\nOffering\n \n \n ” together with the FT Offering, the\n \n \n “Offerings\n \n \n ”) for aggregate  gross proceeds of $\n \n \n 3,489,025 from the Offerings.\n \n \n \n \n Each FT Unit consists of one flow-through common share\nand one-half warrant and each HD Unit consists of one common share and\none-half warrant. Each whole warrant entitles the holder to purchase\none additional common share of the Company at $0.35 for two years from\nclosing.\n \n \n \n \n The common shares and warrants issued on closing are\nsubject to a regulatory resale restriction until April 23, 2023.\n \n \n The Offering\n \n \n s\n \n \n are\n \n \n subject to final approval\n \n \n of the TSX Venture Exchange.\n \n \n \n \n The Company intends to use the proceeds from the\nOffering\n \n \n s\n \n \n to fund\nexploration and drilling on the Company’s Tombstone Gold Belt\nproperties within the Selwyn Basin in the coming year, and for\ncontinuing investigations of additional mineral properties for\nacquisition.\n \n \n \n \n Simon Ridgway, CEO of the Company, comments, “We are\npleased with the closing of the upsized financing that raised $3.4\nmillion, as it reflects significant investor interest in our\nexploration plans for 2023.  Crescat Capital was the lead purchaser\nin the financing investing $1.0 million of the funds dedicated to the\nexploration of the Tombstone Belt.”\n \n \n \n \n Rackla has consolidated an extensive land position in\nthe eastern Tombstone Belt that extends through the southeast...