Business
StrikePoint Gold Closes First Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - March 4, 2024) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) ("StrikePoint" or the "Company") is pleased to
About this update from Strikepoint Gold Inc.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - March 4, 2024) - StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (\"StrikePoint\" or the \"Company\") is pleased to announce that it has completed the first tranche of its non-brokered private placement (the \"Financing\") and has issued 30,687,500 units (each, a \"Unit\"), at a price of $0.04 per Unit for gross proceeds of $1,227,500 (all dollar figures are denominated in Canadian dollars). For further information on this previously announced private placement, refer to the Company's February 13, 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. Under the first tranche of the Financing, the Company paid $37,380 in Finder's Fees and issued 934,500 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 1, 2026. The Company anticipates closing a second tranche of the financing in mid-March 2024. 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 such, the aggregate number of common shares issued by the Company at less than $0.05 in this offering and in the next 12-month period may not exceed 100% of the number of common shares which were issued and outstanding prior to the offering. To date, certain insiders of the Company partic...