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TomaGold Announces Closing of First Tranche of Private Placement Featuring Strategic Investment from SIDEX and NQIM
TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF) (“ TomaGold ” or the “ ...
About this update from Tomagold Corporation Class A
[{"type":"text","content":"TomaGold Announces Closing of First Tranche of Private Placement Featuring Strategic Investment from SIDEX and NQIM\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n TOMAGOLD CORPORATION (TSXV: LOT; OTCPK: TOGOF)\n \n (“\n \n TomaGold\n \n ” or the “\n \n Company\n \n ”) is pleased to announce the closing of the first tranche (the “\n \n First Tranche\n \n ”) of its previously announced non-brokered private placement (the “\n \n Private Placement\n \n ”) for total proceeds of $853,969.98. The First Tranche was completed through the issuance of 10,483,333 hard cash units (the “\n \n HC Units\n \n ”) at a price of $0.06 per HC Unit, and of 2,999,600 flow-through units of the Company (“\n \n FT Units\n \n ”) at a price of $0.075 per FT Unit. Each HC Unit consists of one common share in the capital of the Company and one-half of one share purchase warrant (each whole warrant, a “\n \n Warrant\n \n ”), with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.10 for a period of 24 months from the date of issuance. Each FT Unit consists of one common share in the capital of the Company that will qualify as a “flow-through share” for the purposes of the\n \n Income Tax Act\n \n (Canada) (each, a “\n \n FT Share\n \n ”) and one-half of one Warrant.\n \n\n David Grondin, President and CEO of TomaGold, stated: “We are pleased to welcome SIDEX and NQIM as strategic investors in TomaGold. Their support underscores the strong exploration potential of our Berrigan Mine project, currently in Phase 2 of drilling. This first tranche of our ongoing private placement strengthens our financial position as we continue to advance our Chibougamau projects, located within one of Québec’s most prolific mining camps.”\n \n\n In connection with the closing of the First Tranche, the Company paid aggregate cash finder’s fees of $3,673.35 and issued 68,976 compensation warrants to eligible finders (the “\n \n Compensation Warrants\n \n ”). Each Compensation Warrant entitles the holder thereof to purchase one common share of the Company at a price of $0.10 for a period of 24 months from the date of issuance.\n \n\...