Business
Teako Minerals Announces Financings
Vancouver, British Columbia--(Newsfile Corp. - July 6, 2023) - TEAKO MINERALS CORP. (CSE: TMIN) (the "Company" or "Teako") is pleased to announce a non-brokered
About this update from Teako Minerals Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - July 6, 2023) - TEAKO MINERALS CORP. (CSE: TMIN) (the \"Company\" or \"Teako\") is pleased to announce a non-brokered private placement of up to $1,720,000 (the \"Private Placement\"). The Private Placement will consist of the issuance of up to 12,000,000 units (each, a \"Non-FT Unit\") at a price of $0.10 per Non-FT Unit, for gross proceeds of up to $1,200,000, and up to 4,000,000 flow-through shares (each, a \"FT Share\") at a price of $0.13 per FT Share, for gross proceeds of up to $520,000. Each Non-FT Unit will be comprised of one common share of the Company and one-half of one common share purchase warrant (each whole common share purchase warrant, a \"Warrant\"), with each Warrant entitling the holder thereof to purchase one common share at a price of $0.20 for a period of 36 months from closing of the financing. Each FT Share will be comprised of one flow-through common share of the Company within the meaning of the Income Tax Act (Canada). The Warrants will include an acceleration clause to the effect that if at any time after the statutory 4-month and one day hold period from the closing date, the daily volume weighted average closing price of the common shares on the CSE is at least $0.40 per share for a period of 10 consecutive trading days (the \"Triggering Event\") the Company may, within 5 days of the Triggering Event, accelerate the expiry date of the Warrants by giving notice thereof to the holders of the Warrants, by way of news release, and in such case the Warrants will expire on the first day that is 30 calendar days after the date on which such notice is given by the Company announcing the Triggering Event. The Company may pay a finder's fee on the Private Placement within the maximum amount permitted by the policies of the CSE. The Company may complete multiple closings of the Private Placement, as subscriptions are received. Each closing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals. Closing of the Private Placement is subject to certain customary conditions, including, without limitation, approval of the CSE. The securities to be issued under the Private Placement will be offered by way of private placement in the provinces of British Columbia, Alberta and Ontario and such other provinces or terr...