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Canadian Orebodies Closes $1,174,000 Non-Brokered Private Placement
TORONTO, March 03, 2020 (GLOBE NEWSWIRE) -- Canadian Orebodies Inc. (the “Company”) (TSXV:CORE) is pleased to announce that it has closed the non-brokered priva
About this update from Rocky Shore Gold Limited
[{"type":"text","content":" TORONTO, March 03, 2020 (GLOBE NEWSWIRE) -- Canadian Orebodies Inc. (the “Company”) (TSXV:CORE) is pleased to announce that it has closed the non-brokered private placements (the “Financing”) that were previously announced on January 10, 2020 and February 13, 2020. The Company raised aggregate gross proceeds of $1,174,000 through the sale of 4,920,000 common shares (the “Shares”) at a price of $0.10 per Share, 850,000 flow-through common shares (the “FT Shares”) at a price of $0.12 per FT Share, and 4,000,000 flow-through common shares (the “Premium FT Shares”) at a price of $0.145 per Premium FT Share. “We would like to thank all our shareholders for their continued support, and in particular Northfield Capital Corporation and O3 Mining Inc. for their backing in this financing. We were pleased to raise more than our initial goal and look forward to getting to work on the Hemlo projects,” said Fraser Laschinger, Interim CEO & CFO. The proceeds of the Financing will be used for the exploration and advancement of the Company’s Hemlo area properties, and for general corporate purposes. All securities to be issued in connection with the Financing will be subject to a hold period expiring on July 4, 2020. The Company paid cash finders’ fees of $13,140 in connection with the Financing. The Company obtained disinterested shareholder approval on February 26, 2020 for Northfield Capital Corporation and its joint actor, Mr. Robert Cudney, to become a new “Control Person” of the Company (as such term is defined in the TSX Venture Exchange Corporate Finance Manual). Closing of the Financing is conditional upon the receipt of all required regulatory approvals, including the final approval of the TSX Venture Exchange. Insiders of the Company, Northfield Capital Corporation together with its joint actor, Mr. Robert Cudney, have, directly or indirectly, subscribed for and acquired direction or control over a total of 5,000,000 common shares under the Financing, increasing their combination of direct or indirect beneficial ownership of, and control or direction over issued and outstanding common shares of the Company to approximately 24.75%. Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the private placement of shares to insiders constitutes a “related party trans...