Business
StrikePoint Closes Second and Final Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2024) - StrikePoint Gold Inc. (TSXV: SK...
About this update from Strikepoint Gold Inc.
[{"type":"text","content":"StrikePoint Closes Second and Final Tranche of Private PlacementVancouver, British Columbia--(Newsfile Corp. - March 18, 2024) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (\"StrikePoint\" or the \"Company\") is pleased to announce that it has completed the closing of the second and final tranche (\"Tranche 2\") of its fully subscribed non-brokered private placement (the \"Financing\"). The Company issued an additional 19,431,250 units (each, a \"Unit\"), at a price of $0.04 per Unit for gross proceeds of $777,250 (all dollar figures are denominated in Canadian dollars), bringing the total offering to 50,118,750 units for aggregate gross proceeds of $2,004,750 when combined with the previous closing, subject to final approval from the TSX Venture Exchange (\"TSXV\"). For further information on this previously announced private placement, refer to the Company's February 13, 2024 news release and March 4, 2024 news release.Each Unit consists of one common share (a \"Common Share\") and one-half of one share purchase warrant (the \"Warrant\"). Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.07 per Common Share for a period of twenty-four (24) months from the date of issuance.It is anticipated that proceeds from the Financing will be utilized as follows: Cuprite Gold Project exploratory drilling program, including assay costs and geological review (approximately 83%); claim fee maintenance fees (approximately 7%); with the remaining amount for general working capital, including regulatory, legal, and other fees associated with closing the Financing (approximately 10%). None of the proceeds raised will be used to pay \"Non-Arm's Length Parties\" (as defined in the policies of the TSX Venture Exchange (\"TSXV\")) or to fund Investor Relations activities.In connection with Tranche 2 of the Financing, the Company paid $35,175 in Finder's Fees and issued 879,375 non-transferable broker warrants (\"Finder's Warrants\") in consideration for introducing subscribers to the Financing. Finder's Warrants entitle the holder thereof to purchase one Common Share of the Company at a price of $0.07 per Finder's Warrant until March 18, 2026.In accordance with the policies of the TSXV, the Company is relying on a minimum price exception in order to issue securities at less than $0.05 per listed security. As s...