Business
SLAM Announces $480,000 Flow-Through Private Placement
(TheNewswire) August 16, 2024 – TheNewswire - Miramichi, New Brunswick  ...
About this update from Slam Exploration Ltd.
[{"type":"text","content":"SLAM Announces $480,000 Flow-Through Private Placement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n August 16, 2024 –\n \n\n TheNewswire -\n \n\n Miramichi, New Brunswick ‐ SLAM\nExploration Ltd. (TSXV: SXL\n \n\n ) (“\n \n\n SLAM\n \n\n ” or the\n“\n \n\n Company\n \n\n ”)\n \n\n is pleased to\n \n\n announce a private placement of up to 16,000,000 flow-through\nunits (“FT Units”) to be issued at a price of $0.03 per FT Unit\nfor gross proceeds up to $480,000 (the “Private Placement”). Each\nFT Unit will be comprised of one common share of the Company issued on\na “flow-through” basis and one-half common share purchase warrant\n(with two such half common share purchase warrants each being a\n“Warrant”) issued on a “non-flow-through” basis. Each Warrant\nwill entitle the holder thereof to acquire one non-flow-through common\nshare at a price of $0.05 for a period of 24 months from the date of\nclosing. The FT Units will qualify for the 30% Critical Mineral\nExploration Tax Credit (“CMETC”) in addition to the federal flow\nthrough tax deduction.\n \n\n\n\n Proceeds received from the FT Units will be used to\nfund exploration on SLAM's Goodwin copper nickel project in New\nBrunswick, Canada. The Company may pay finder’s fees on the Private\nPlacement and it is anticipated that certain insiders will participate\nin the Private Placement.  The FT Units will be subject to a\nstatutory hold period of four months and one day from issuance. The\nPrivate Placement remains subject to customary closing conditions,\nincluding approval from the TSX Venture Exchange. For additional\ninformation regarding the Private Placement, please call Mike Taylor:\nat 506-623-8960.\n \n\n\n\n This news release does not constitute an offer to sell\nor a solicitation of an offer to sell any of the securities in the\nUnited States.  The securities have not been and will not be\nregistered under the United States Securities Act of 1933, as amended\n(the \"U.S. Securities Act\") or any state securities laws and\nmay not be offered or sold within the United States or to U.S. Persons\nunless registered under the U.S. Securities Act and applicable state\nsecurities laws or an exemption from such registration is\n...