Business
Sixty North Gold Mining Announces Increase in Unit Offering and Second Unit Offering with a Lead Order from Palisades Goldcorp
Vancouver, British Columbia--(Newsfile Corp. - August 3, 2020) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty
About this update from Sixty North Gold Mining Ltd
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - August 3, 2020) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the \"Company\" or \"Sixty North\") pursuant to the Company's press release dated June 30, 2020, Sixty North announced a non-brokered private placement of up to 6,000,000 units (the \"First Units\") at an offering price of $0.05 per First Unit, to raise gross proceeds of up to $300,000 (the \"First Offering\"). The Company completed a first closing of this financing to raise initial gross proceeds of $165,000, as announced by Sixty North on July 7, 2020. The Company proposes to increase the size of the First Offering by an additional $608,000 for a total issuance of up to 18,160,000 First Units. Each First Unit consists of one (1) common share of the Company and one (1) share purchase warrant (the \"First Warrants\"). Each whole First Warrant will be exercisable to acquire one additional common share at an exercise price of $0.075 per share for a period of two (2) years from the dates of the closings of the First Offering. In the event that the common shares of the Company trade at a closing price greater than $0.15 per share for a period of 10 consecutive trading days, then the Company may deliver a notice to the First Warrant holders that they must exercise their First Warrants within the next 30 days, or the First Warrants will expire. The Company is pleased to further announce a second non-brokered private placement to raise up to another $500,000 (the \"Second Offering\") of up to 10,000,000 units (the \"Second Units\") at an offering price of $0.05 per Second Unit, with a lead order from Palisades Goldcorp Ltd. Each Second Unit will consist of one (1) common share of the Company and one (1) share purchase warrant (the \"Second Warrants\"). Each whole Second Warrant will be exercisable to acquire one additional common share at an exercise price of $0.075 per share for a period of three (3) years from the date of closing of the Second Offering. The terms of the First and Second Offerings are subject to satisfactory notice to the Canadian Securities Exchange. The Company will pay finder's fees in connection with the First Offering and Second Offering as permitted by law to certain finders, (the \"Finders\"), equal to up to 8.0% of the gross proceeds raised by each Finder, and share...