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Currie Rose Announces Completion of Private Placement of $2.37 Million and Provides Corporate Update
Toronto, Ontario--(Newsfile Corp. - October 14, 2022) - Currie Rose Resources Inc. (TSXV: CUI...
About this update from Velox Energy Materials Inc
[{"type":"text","content":"Currie Rose Announces Completion of Private Placement of $2.37 Million and Provides Corporate UpdateToronto, Ontario--(Newsfile Corp. - October 14, 2022) - Currie Rose Resources Inc. (TSXV: CUI) (\"Currie Rose\" or the \"Company\") is pleased to announce the completion of the previously announced non-brokered private placement (See Press Release dated September 22, 2022). The Company has issued an aggregate of 79,000,001 Units at a price of C$0.03 per Unit for aggregate gross proceeds of C$2,370,000.03. Each Unit consists of one common share and one half of one (½) common share purchase warrant (a \"Warrant\").Each Warrant entitles the holder thereof to purchase one additional Common Share at a price of C$0.05 per Common Share at any time prior to October 14, 2024. If the volume-weighted average price of the common shares of the Company on the TSX Venture Exchange over the preceding 20 trading days is greater than C$0.15, the Company can elect to accelerate the term of the Warrants to 30 calendar days following the date a press release announcing the notice of acceleration is issued.Mike Griffiths, CEO, President and Director, said: \"The fundraising for our North Queensland Vanadium Project has been a tremendous success, and its completion is a great milestone in the development of the Company. We are now well funded to advance our critical Vanadium project towards a Preliminary Economic Assessment (PEA) – planning is well underway with the next phases of drilling and metallurgical test work being the focus of our efforts over the next 6 to 8 months.\"Of the total proceeds raised, $220,000 will be paid to Non-Arm's Length Parties, up to $60,000 toward Investor Relations Activities, and the balance to be used to further exploration, resource confirmation and geological sampling & testing and for general working capital purposes as set out below. Forward 12-month Period  Non-Arm's Length Parties$220,000Investor Relations Activities$60,000Corporate G&A & Expenses$150,000 Total Corporate Expenses$430,000 Project Expenditures  General Project Expenses$195,000Drilling& assaying$400,000*Consultants$220,000Metallurgical Test Work$525,000*Environmental Studies$250,000*Engineering Studies$220,000Total Project Expenditures$1,810,000 * Indicates specific expenditure of >10% of ProceedsAll ...