Business
Whitehorse Gold Closes First Tranche of Private Placement
Vancouver, British Columbia--(Newsfile Corp. - December 16, 2022) - Whitehorse Gold Corp.  ...
About this update from Tincorp Metals Inc
[{"type":"text","content":"Whitehorse Gold Closes First Tranche of Private PlacementVancouver, British Columbia--(Newsfile Corp. - December 16, 2022) - Whitehorse Gold Corp. (TSXV: WHG) (OTCQX: WHGDF) (\"Whitehorse Gold\" or the \"Company\") is pleased to report that it has closed the first tranche of its previously announced non-brokered private placement yesterday, whereby the Company has completed the issuance of 7,922,500 units (each, a \"Unit\") at a price of $0.40 per Unit for gross proceeds of $3,169,000.In connection with the first tranche of the private placement, commissions on the sale of the common shares were paid to eligible finders in accordance with the policies of the TSX Venture Exchange and applicable securities laws. In particular, the company paid an aggregate of $800 in cash commissions to the finders. The closing of the private placement is subject to the final approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a statutory four-month and one-day hold period from the closing date.The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes. As insiders of the Company (including Silvercorp) are expected to participate in the Offering, any such subscriptions will be considered to be related party transactions within the meaning of TSXV Policy 5.9 Protection of Minority Security Holders in Special Transactions, which incorporates Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (\"MI 61-101\"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.The securities described herein 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 United States state securities laws, and accordingly, may not be offered or sold within the United States or to U.S. persons except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release is not an offer or a solicitation of an offer of secu...