Business
Alianza Minerals Closes Private Placement
(TheNewswire) Vancouver, BC – TheNewswire - May 19, 2022 - ...
About this update from Silver North Resources Ltd.
[{"type":"text","content":"Alianza Minerals Closes Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n Vancouver, BC –\n \n \n TheNewswire -\n \n \n May 19, 2022\n \n -\n \n Alianza Minerals Ltd.\n \n \n (TSXV:ANZ\n \n \n )\n \n \n ,\n \n \n (\n \n \n OTC:TARSF)\n \n (“\n \n Alianza\n \n ” or the “\n \n Company\n \n ”) is pleased to report\nthat the financing announced originally on April 25, 2022 has now been\nclosed.\n \n \n The Company raised a total of $750,000 from the issuance of the\n10,000,000 units to\n \n fund\n \n various activities of\nAlianza including exploration, project generation, marketing of\nprojects in 2022, and other corporate overhead costs.\n \n \n Each unit is comprised of one common share and one half of a common\nshare purchase warrant.  Each full common share purchase warrant\nentitles the holder to purchase one common share for $0.125 per common\nshare until May 19, 2025.  The common share purchase warrants are\nnon-transferable.  All securities are subject to a four-month hold\nexpiring on September 20, 2022.\n \n \n \n \n \n \n \n A director and an officer of the Company purchased or\nacquired direction and control over a total of 1,912,933 Units under\nthe private placement. The placement to those persons constitutes a\n“related party transaction” within the meaning of TSX Venture\nExchange Policy 5.9 and Multilateral Instrument 61-101 -\n \n \n Protection of Minority Security Holders in\nSpecial Transactions\n \n \n (“MI 61-101”) adopted\nin the Policy. The Company has relied on exemptions from the formal\nvaluation and minority shareholder approval requirements of MI 61-101\ncontained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of\nrelated party participation in the placement as neither the fair\nmarket value (as determined under MI 61-101) of the subject matter of,\nnor the fair market value of the consideration for, the transaction,\ninsofar as it involved the related parties, exceeded 25% of the\nCompany's market capitalization (as determined under MI\n61-101).\n \n \n \n This news release does not constitute an offer of securities for sale\nin the United States. The securities being offered have not been, nor\nwill they be, registered under the United States Securities Act of\n1933, as amended, and such securities ...