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SLAM Raises $100,000 in Second Tranche
SLAM Raises $100,000 in Second Tranche Canada NewsWire MIRAMICHI, NB, Jan. 11, 2...
About this update from Slam Exploration Ltd.
[{"type":"text","content":"\n\n\n\nSLAM Raises $100,000 in Second Tranche\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMIRAMICHI, NB, Jan. 11, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nTSXV: SXL\n\n\n\nMIRAMICHI, NB, Jan. 11, 2018 /CNW/ - SLAM Exploration Ltd. (TSXV: SXL) (the \"Company\") announces it has closed the second and final tranche of the private placement announced December 12, 2017.  The Company sold 500,000 flow-through units (the \"FT Units\") and 1,500,000 non-flow-through Units (the \"Units\") to raise an additional $100,000.  This combines with $235,000 placed in the first tranche for a total placement of $335,000. \n\nEach Unit was priced at $0.05 and comprised of one common share in the capital of the Company and one common share purchase warrant.  Each FT Unit was priced at $0.05 and comprised of one common share in the capital of the Company issued on a \"flow-through\" basis and one-half of one common share purchase warrant issued on a non-flow-through basis (each whole common share purchase warrant, a \"Warrant\").  Each Warrant will entitle the holder thereof to acquire one non-flow-through common share at a price of $0.055 for a period of 36 months from the date of issuance.  The 2,350,000 Warrants issued in the first tranche will expire December 28, 2020.  The Units and FT Units are subject to a four-month and one day hold period from the date of issuance.\n\nThe Company paid 320,000 shares in lieu of the $16,000 cash finders fee that was due to an Agent on the first tranche.  The Company also issued 160,000 broker warrants and 160,000 compensation shares to the Agent in connection with the first tranche.  The broker warrants were issued with the same terms as the Warrants described above.  No  finders fees were paid  in the second tranche.  Mike Taylor, President and CEO of the Company, purchased 500,000 FT Units with a subscription for $25,000 worth of FT Units in the second tranche. The private ...