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Sassy Resources Closes First Tranche of Non-brokered Private Placement
VANCOUVER, BC, Oct. 22, 2020 /CNW/ - Sassy Resources Corporation ("Sassy" or the "Company") (CSE: SASY) is pleased to announce that it has closed the first tran
About this update from Sassy Gold Corp
[{"type":"text","content":" VANCOUVER, BC, Oct. 22, 2020 /CNW/ - Sassy Resources Corporation (\"Sassy\" or the \"Company\") (CSE: SASY) is pleased to announce that it has closed the first tranche of its non-brokered private placement (the \"Private Placement\", refer to October 8, 2020 news release), raising aggregate gross proceeds of $3,070,765.40. The second tranche is expected to close shortly. In this first tranche, Sassy has issued 1,578,628 units (the \"Units\") at a price of $0.90 per Unit and 1,375,001 flow-through units (the \"FT Units\") at a price of $1.20 per FT Unit. Each Unit consists of one common share (a \"Share\") and one-half of one transferable warrant with each whole warrant (a \"Warrant\") exercisable at a price of $1.25 for a period of two years, provided that in the event that the closing price of the Company's Shares on the Canadian Securities Exchange (the \"Exchange\") (or such other exchange on which the Company's Shares may become traded) is $1.75 or greater per Share during any ten (10) consecutive trading day period at any time subsequent to four months and one day after the closing date, the Warrants will expire at 4:00 p.m. (Vancouver time) on the 30th day after the date on which the Company provides notice of such accelerated expiry to the holders of the Warrants (the \"Accelerated Expiry Provisions\"). Each FT Unit consists of one flow-through common share and one-half of one transferable Warrant with each whole Warrant exercisable at a price of $1.50 for a period of two years, subject to the Accelerated Expiry Provisions. All securities issued are subject to a four-month hold period pursuant to securities laws in Canada. The Company paid total finder's fees of $156,247.56 and 142,983 finder's warrants (\"Finder's Warrants\") to Leede Jones Gable Inc., Haywood Securities Inc., PI Financial Corp., Mines Equities Ltd., Canaccord Genuity Corp., Aligned Capital Partners Inc. and Qwest Investment Fund Ltd. The Finder's Warrants are non-transferable and exercisable at prices of $0.90 and $1.20 per Finder's Warrant for a period of two years subject to the Accelerated Expiry Provisions. The Company intends to use the proceeds from the Private Placement to further advance its Westmore gold-silver discovery and its broader Foremore Gold-Silver Project in the Eskay Camp. About Sassy Resources Corporation Sassy Resources is an expl...