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T2 Metals Announces Flow-Through and Non Flow-Through Private Placements to Raise up to $1.4 Million
Vancouver, British Columbia--(Newsfile Corp. - December 15, 2022) - T2 Metals Corp. (TSXV: TWO...
About this update from T2 Metals Corp
[{"type":"text","content":"T2 Metals Announces Flow-Through and Non Flow-Through Private Placements to Raise up to $1.4 MillionVancouver, British Columbia--(Newsfile Corp. - December 15, 2022) - T2 Metals Corp. (TSXV: TWO) (OTCQB: AGLAF) (WKN: A2DR6E) (\"T2\" or the \"Company\")  announces that further to a price reservation filed with the TSX Venture Exchange (the \"Exchange\") on December 6, 2022, the Company proposes to raise gross proceeds of up to $1.4M (the \"Financing') by issuing up to: 2,777,777 units in a flow-through private placement at a price of $0.36 per unit (a \"FT Unit\") for gross proceeds of up to $1,000,000. Each FT Unit will consist of one flow-through common share and one non flow-through common share purchase warrant (a \"Warrant\"), exercisable to purchase one additional non flow-through common share at a price of $0.45 for a period of thirty-six (36) months from the date of issuance; and1,379,310 units in a non flow-through private placement at a price of $0.29 per unit (a \"Unit\") for gross proceeds of up to $400,000. Each Unit will consist of one common share and one-half of a common share purchase Warrant, with each whole Warrant exercisable to purchase one additional common share at an exercise price of $0.45 for a period of thirty-six (36) months from the date of issuance.The Company can elect to accelerate the expiry of the Warrants in the event that the volume-weighted average trading price of its common shares on a stock exchange equals or exceeds $0.90 for twenty (20) consecutive trading days, in which case the Warrants will expire thirty (30) days after the date that the Company provides written notice of acceleration by way of the issuance of a press release announcing the same.There will be insider participation in the Financing. Finders' fees may be paid on a portion of the Financing, subject to the acceptance of the Exchange.The proceeds from the issuance of the FT Units will be used for \"Canadian exploration expenses\" and will qualify as \"flow-through mining expenditures\" (the \"Qualifying Expenditures\"), as defined in subsection 127(9) of the Income Tax Act (Canada). The Company intends to renounce the Qualifying Expenditures to subscribers of FT Units for the fiscal year ended December 31, 2022. The proceeds from the issuance of Units will be primarily used for exploration activities at the Company's p...