Business
Abitex completes first tranche of private placement raising $1,880,000
VAL-D'OR, QC, June 12 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE) (the "Company") is please...
About this update from Vision Lithium, Inc.
[{"type":"text","content":"\n\n\n\nVAL-D'OR, QC, June 12 /CNW Telbec/ - Abitex Resources Inc. (TSX-V: ABE)\n(the "Company") is pleased to announce that it has completed the first tranche\nof a private placement for a total of $1,880,000.\n\n\nThe Corporation issued a total of 10,742,869 flow-through units of the\nCorporation (the "FT Units") at a price of $0.175 per FT Unit for aggregate\ngross proceeds of $1,880,000. Each Unit consists of one common share and one\nhalf (1/2) of one common share purchase warrant. Each whole warrant entitles\nits holder to subscribe to one non flow-through common share of the\nCorporation for $0.25 within 24 months following the date of issuance of the\nwarrant.\n\n\nThe first segment of the private placement consisted of a non-brokered\nprivate placement of 6,371,427 FT Units for gross proceeds of $1,115,000. The\nplacees are four (4) flow-through limited partnerships of the MineralFields\nGroup (the "Placees"). In connection with the private placement, Limited\nMarket Dealer Inc. received a cash commission equal to 6% of the gross\nproceeds raised as well as an option to acquire non flow-through units of the\nCompany equal to 8% of the number of FT Units issued to the Placees at a price\nof $0.175 per unit. Each unit is comprised of one non flow-through common\nshare and one half (1/2) of one common share purchase warrant. Each full\nwarrant entitles its holder to acquire one non flow-through common share of\nthe Company for $0.25 within 24 months following the date of issuance of the\nwarrant.\n\n\nThe second segment of the private placement consisted of a non-brokered\nprivate placement of 4,371,442 FT Units for gross proceeds of $765,000. The\nplacees are individual investors. Finder's fees of $39,000 equal to 6% of\n$650,000 of the gross proceeds raised have or will be paid by the Corporation\nto MZ Finance, CIBC Wood Gundy and BMO Nesbitt Burns of Montreal, Quebec.\n\n\nThe offering is subject to the required approvals of the applicable\nregulatory authorities, including final approval of the TSX Venture Exchange.\nAll securities issued in connection with the offering will be subject to a\nhold period of four months plus one (1) day.\n\n\nThe Company expects to close the second tranche of the private placement\noffering in the coming weeks. The funds of the offering will be used by the\...