SRQ Resources Announces Fully Committed C$2.4 Million Non-Brokered Private Placement of Common and Flow-Through Shares

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[{"type":"text","content":"SRQ Resources Announces Fully Committed C$2.4 Million Non-Brokered Private Placement of Common and Flow-Through Shares\n\n\n\n MONTREAL, March 19, 2025 (GLOBE NEWSWIRE) --\n \n SRQ Resources Inc.\n \n (TSXV: SRQ) (“\n \n SRQ\n \n ” or the “\n \n Company\n \n ) is pleased to announce a fully committed non-brokered private placement (the “\n \n Offering\n \n ”) of 18,103,399 common shares of the Company (each, a “Common Share”) for aggregate gross proceeds of C$2,371,392. The Offering is comprised of two tranches, as follows:\n \n\n\n\n Hard Dollar Unit\n \n : 14,786,982 Hard Dollar Units (the “\n \n Hard Dollar Units\n \n ”) at a price of C$0.12 per unit, comprising one common share and one common share purchase warrant (a “\n \n Warrant\n \n ”) enabling the holder to purchase one common share in the capital of the Corporation for a period of 24 months from the closing date at a price of $0.18 per Warrant share, for gross proceeds of C$1,774,438;\n \n\n\n Flow-Through Shares\n \n : 3,316,417 Common Shares that qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the “\n \n FT Shares\n \n ”) at a price of C$0.18 per FT Share for gross proceeds of C$596,955.\n \n\n\n The gross proceeds from the sale of the Flow-Through Shares will be used by the Company to incur eligible \"Canadian exploration expenses\" that qualify as \"flow-through mining expenditures\" (as both terms are defined in the Income Tax Act (Canada)) (the \"\n \n Qualifying Expenditures\n \n \") related to the Company's projects in Québec. The Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares with an effective date no later than December 31, 2025 and in the aggregate amount of not less than the total amount of the gross proceeds raised from the issuance of the Flow-Through Shares. The net proceeds from the sale of the Hard Dollar Shares are expected to be used by the Corporation for working capital and general corporate purposes.\n \n\n Finders’ fees of 7% in cash and 7% in warrants will be paid to certain arm’s-length finders.\n \n\n The Private Placement will be subject to standard regulatory approvals and conditions, including but not limited ...

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