Business
Sylla Gold Announces Closing of First Tranche of Private Placement of Units
Bedford, Nova Scotia--(Newsfile Corp. - January 3, 2023) - Sylla Gold Corp. (TSXV: SYG) (OTCQB: ...
About this update from Sylla Gold Corp
[{"type":"text","content":"Sylla Gold Announces Closing of First Tranche of Private Placement of UnitsBedford, Nova Scotia--(Newsfile Corp. - January 3, 2023) - Sylla Gold Corp. (TSXV: SYG) (OTCQB: SYGCF) (the \"Company\") is pleased to announce that, further to its press releases of October 20, 2022 and December 8, 2022, the Company has closed the first tranche of a non-brokered private placement through the issuance of 3,151,420 units (each, a \"Unit\") at a price of $0.10 per Unit for aggregate gross proceeds of $315,142 (the \"Offering\"). Each Unit is comprised of one common share (each, a \"Common Share\") in the capital of the Company and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to acquire one Common Share at a price of $0.15 per Common Share for a period of two (2) years from the closing of the Offering.In connection with the Offering, the Company paid certain eligible persons (the \"Finders\") a cash commission in the aggregate amount of $15,693.44 and issued and aggregate of 113,849 broker warrants (\"Broker Warrants\"). Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of $0.15 per Common Share for a period of two (2) years from the closing of the Offering.All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The proceeds from the Offering will be used by the Company for corporate and general working capital purposes, and exploration activities. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange. In addition, the Company has applied to the TSX Venture Exchange for an extension of its price protection for an additional 30 days in order to complete an additional tranche of the Offering.This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or...