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RETRANSMISSION: BMEX Announces Private Placement of up to $9,550,000 of Units and Flow-Through Units
Vancouver, British Columbia--(Newsfile Corp. - September 8, 2020) -   BMEX Gold Inc. (TS...
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[{"type":"text","content":"RETRANSMISSION: BMEX Announces Private Placement of up to $9,550,000 of Units and Flow-Through UnitsVancouver, British Columbia--(Newsfile Corp. - September 8, 2020) -  BMEX Gold Inc. (TSXV: BMEX) (\"BMEX\" or the \"Company\") is pleased to announce that it has entered into an agreement with StephenAvenue Securities Inc. in connection with a \"best efforts\" private placement of units of the Company (each, a \"Unit\") at a price of $0.30 per Unit and flow-through units of the Company (each, a \"FT Unit\" and together with the Units, the \"Offered Securities\") at a price of $0.5325 for aggregate gross proceeds of up to $9,550,000 (the \"Offering\").Each Unit will consist of one common share (\"Common Share\") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant a \"Warrant\") of the Company. Each whole Warrant will entitle the holder thereof to acquire one additional Common Share at an exercise price of $0.50 for a period of eighteen (18) months following the closing date (\"Closing Date\") of the Offering. Each FT Unit will consist of one flow-through common share (\"FT Share\") (which will qualify as \"flow-through shares\" within the meaning of subsection 66(15) of the Income Tax Act (Canada)) and one-half of one Warrant. Each whole Warrant will entitle the holder thereof to acquire one additional Common Share, to be issued on a non-flow-through basis, at an exercise price of $0.50 for a period of eighteen months following the Closing Date.As consideration for the services provided by the Agent in connection with the Offering, the Company will pay: (i) a cash commission of 7% of the gross proceeds of the Offering; and (ii) broker warrants (\"Broker Warrants\") in an amount equal to 7% of the number of Offered Securities issued pursuant to the Offering, exercisable at a price of $0.30 per Common Share for a period of eighteen (18) months following the Closing Date. The Agent is working with PearTree Securities Inc. as gifting arrangement promoter in respect of the sale of the FT Units.All securities issued pursuant to the Offering are subject to a statutory hold period of four months from the date of issuance in accordance with applicable securities legislation. The net proceeds from the sale of the Units will be used for general working capital. The gross proceeds from the s...