Business
Ramp Metals Announces Upsizing of Non-Brokered Private Placement Led by Strategic Investors Eric Sprott and EarthLabs
Vancouver, British Columbia--(Newsfile Corp. - August 8, 2024) - Ramp Metals Inc. (TSXV: RAMP) ("...
About this update from Ramp Metals Inc
[{"type":"text","content":"Ramp Metals Announces Upsizing of Non-Brokered Private Placement Led by Strategic Investors Eric Sprott and EarthLabsVancouver, British Columbia--(Newsfile Corp. - August 8, 2024) - Ramp Metals Inc. (TSXV: RAMP) (\"Ramp Metals\" or the \"Company\") is pleased to announce that, due to investor demand, the Company is increasing the size of its previously announced non-brokered private placement financing from $4,500,000 to approximately $4,900,000 (the \"Offering\"). The Offering is expected to be led by Eric Sprott and EarthLabs.The issue price of the securities in the Offering, namely the common shares of the Company (the \"Common Shares\") and the charity flow-through Common Shares (the \"CFT Shares\"), is unchanged at $0.55 per Common Share and $0.78 per CFT Share.As described in the Company's news release dated July 17, 2024, the proceeds from the issuance and sale of the CFT Shares will be used for exploration expenses at Ramp Metals' Rottenstone SW property in Saskatchewan and the proceeds from the issuance and sale of the Common Shares will be used for both exploration expenses and general working capital.The CFT Shares will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada).The closing of the Offering remains subject to the approval of the TSX Venture Exchange, and all securities issued in connection with the Offering will be subject to a hold period in Canada of four months plus one day. About Ramp Metals Inc.Ramp Metals is a grassroots exploration company with a focus on a potential new Saskatchewan gold district. The Company currently has new high-grade gold discovery of 73.55 g/t Au over 7.5m at its flagship Rottenstone SW property. The Rottenstone SW property comprises of 32,715 hectares and is situated in the Rottenstone Domain.Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.FORWARD-LOOKING STATEMENTSThis news release contains \"forward-looking statements\" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identif...