Business
CMC Announces Closing of Non-Brokered Private Placement of C$1.36 Million
(TheNewswire) June 14, 2021 – TheNewswire - Vancouver, BC. - CMC M...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"CMC Announces Closing of Non-Brokered Private Placement of C$1.36 Million\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n June 14, 2021 – TheNewswire -\n \n \n Vancouver, BC. - CMC Metals\nLtd. (the “Company”) (TSXV:CMB)\n \n \n (OTC\n \n \n :CMCXF\n \n \n )\n(Frankfurt:ZM5N)\n \n \n is pleased to announce that,\nfurther to its April 7 and April 30, 2021 press releases, it has\nclosed a non-brokered private placement (the “\n \n \n Offering\n \n \n ”)\ncomprising\n \n \n 4,812,500 flow-through units (each, a\n“\n \n \n FT Unit\n \n \n ”) at a price of $0.16 per FT Unit, and 2,286,735 non-flow\nthrough units (each, a “\n \n \n NFT\nUnit\n \n \n ”) at a price of $0.14 per NFT Unit. Gross\nproceeds from the Offering were $1,090,143.\n \n \n \n \n Each FT Unit and each NFT Unit is comprised of one\ncommon share and one-half of one transferrable non-flow-through share\npurchase warrant (each whole Warrant, a “\n \n \n Warrant\n \n \n ”).  Each\nWarrant entitles the holder thereof to acquire one non- flow-through\ncommon share of the Company (a “\n \n \n Warrant Share\n \n \n ”) at\na price of $0.30 per Warrant Share, expiring on June 14, 2023.\n \n \n \n \n Net proceeds from the Offering will be used to fund the\nCompany’s exploration activities and for general corporate purposes.\n \n \n Proceeds from the sale of common shares\ncomprising the FT Units will be used to incur \"Canadian\nexploration expenses\" and \"flow through mining\nexpenditures\" as these terms are defined in the\n \n \n Income Tax Act\n \n \n (Canada).\n \n \n \n \n Finders’ fees comprised of cash (the “\n \n \n Cash Fees\n \n \n ”), and\nnon-transferable warrants (the “\n \n \n Finder’s Warrants\n \n \n ”), are payable in connection with the Offering, in\ncompliance with the policies of the TSX Venture Exchange. A Cash Fee\nof $18,41\n \n \n \n \n 0 and\n115,063 Finder’s Warrants are payable in connection with a portion\nof the Offering to Red Cloud Securities Inc. (“\n \n \n Red Cloud\n \n \n ”), equal\nto 7% of gross proceeds and units received from subscribers located by\nRed Cloud. A Cash Fee of $11,797.98 and 84,271 Finder’s Warrants are\npayable in connection with a portion of the ...