Business
Carmanah Minerals Closes Private Placement
April 24, 2023 – TheNewswire - Vancouver, B.C. – Carmanah Minerals Corp. (CSE:CARM), (“Carmanah” or the “Company”) announces that it has closed a non-brokered p
About this update from Skull Ridge Gold Corp.
[{"type":"text","content":"April 24, 2023 – TheNewswire - Vancouver, B.C. – Carmanah Minerals Corp. (CSE:CARM), (“Carmanah” or the “Company”) announces that it has closed a non-brokered private placement of 8,333,334 units (the “Units”) at a price of $0.06 per Unit for gross proceeds of $500,000.04 (the “Private Placement”). Each Unit will be comprised of one common share in the capital of the Company (each, a “Share”) and one share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Share at a price of $0.10 for a period of two years from the date of issuance. Finder’s fees of $12,720 cash and 212,000 Warrants (the “Finder’s Warrants”) have been paid in connection with the Private Placement to PI Financial Corp. The Finder’s Warrants have the same terms as noted above. The Company intends to use the net proceeds from the Private Placement for general ongoing working capital and corporate purposes. Certain insiders of the Company subscribed for a total of 1,753,268 Units under the Private Placement, which is a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The issuances to the insiders are exempt from the valuation requirement of MI 61-101 by virtue of the exemption contained in section 5.5(b) as the Company's shares are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in section 5.7(a) of MI 61-101 in that the fair market value of the consideration of the securities issued to the related parties did not exceed 25% of the Company's market capitalization. About Carmanah Minerals Corp. Carmanah Minerals Corp. is a Canadian junior exploration company focused on a diversified portfolio covering Precious Metals, Energy, and Critical Elements. The Company recently signed a Joint Venture agreement with Marvel Discovery Corp. to earn a 50% interest in the Walker Claims located along the prolific Key Lake fault adjacent to Cameco’s Mine and Mill in the Athabasca Basin, Saskatchewan. The Walker and KLR Properties lie within the Wollaston‐Mudjactic transition zone (WMTZ) of the eastern Athabasca basin, which is host to the highest‐grade uranium mines in the world. Carmanah is also actively explo...