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Scottie Resources Announces Closing of $6.5 Million Private Placement
Scottie Resources Announces Closing of $6.5 Million Private Placement Canada NewsWire ...
About this update from Scottie Resources Corp.
[{"type":"text","content":"\n \n \n \n Scottie Resources Announces Closing of $6.5 Million Private Placement\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Feb. 16, 2023\n \n \n /CNW/ -\n \n Scottie Resources Corp.\n \n (TSXV: SCOT) (OTCQB: SCTSF) (the \"\n \n Company\n \n \") is pleased to announce that it has closed its previously announced brokered private placement financing pursuant to an underwriting agreement dated\n \n February 16, 2023\n \n (the \"\n \n Underwriting Agreement\n \n \") with Cormark Securities Inc. as sole underwriter (the \"\n \n Underwriter\n \n \") in connection with a \"bought deal\" private placement of: (i) 11,429,000 common shares of the Company that qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n FT Shares\n \n \") at a price of\n \n $0\n \n .35 per FT Share for gross proceeds of\n \n $4,000,150\n \n ; and (ii) 10,870,000 common shares of the Company (the \"\n \n HD Shares\n \n \", and together with the FT Shares, the \"\n \n Offered Shares\n \n \") at a price of\n \n $0.23\n \n per HD Share (the \"\n \n HD Issue Price\n \n \") for gross proceeds of\n \n $2,500,100\n \n , for aggregate gross proceeds to the Company of\n \n $6,500,250\n \n (collectively, the \"\n \n Offering\n \n \").\n \n \n \n \n \n \n \n \n \n Pursuant to the Underwriting Agreement, the Underwriter received a cash commission representing 6.0% of the gross proceeds raised under the Offering (other than in respect of sales to purchasers on a \"president's list\", in which case it was reduced to 3.0%), and were issued 1,142,287 broker warrants of the Company (\"\n \n Broker Warrants\n \n \"). Each Broker Warrant entitles the holder to purchase one common share (a \"\n \n Broker Warrant Share\n \n \") of the Company at a price of\n \n $0.23\n \n per ...