763997 ALBERTA LTD. (FORMERLY TARGET CAPITAL INC.) AND GRAFTON VENTURES ENERGY HOLDINGS CORP. ANNOUNCE CLOSING OF BROKERED PRIVATE PLACEMENT

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[{"type":"text","content":"\n \n \n \n 763997 ALBERTA LTD. (FORMERLY TARGET CAPITAL INC.) AND GRAFTON VENTURES ENERGY HOLDINGS CORP. ANNOUNCE CLOSING OF BROKERED PRIVATE PLACEMENT\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n March 15, 2024\n \n \n /CNW/ - 763997 Alberta Ltd. (formerly Target Capital Inc.) (\"\n \n TCI\n \n \") (NEX: TCI.H) and Grafton Ventures Energy Holdings Corp. (\"\n \n Grafton\n \n \") are pleased to announce the closing of a brokered private placement of 24,333,901 subscription receipts of Grafton (the \"\n \n Subscription Receipts\n \n \") for gross proceeds of\n \n $3,650,085\n \n (the \"Private Placement\") in accordance with the terms of an agency agreement dated the date hereof among Grafton, Eight Capital (the \"\n \n Lead Agent\n \n \"), Haywood Securities Inc., ATB Securities Inc., Canaccord Genuity Corp., and Raymond James Ltd. (together with the Lead Agent, the \"\n \n Agents\n \n \") (the \"\n \n Agency Agreemen\n \n t\").\n \n \n \n Private Placement Highlights\n \n \n \n \n Following the successful close of the brokered private placement and the non-brokered private placement (the \"\n \n Non-Brokered Private Placement\n \n \") for a gross total of\n \n $7.0 million\n \n , Westgate expects to have cash on hand of approximately\n \n $9.0 million\n \n \n \n Strong participation from Grafton management team and Board of Directors in the Non-Brokered Private Placement, contributing over\n \n $3.1 million\n \n \n \n Proceeds used to advance the 'Westgate Strategy', which includes accelerating drilling on existing lands and pursuing strategic acquisition opportunities\n \n \n Public trading is anticipated to occur in late-April or early-May, subject to TSX Venture Exchange approvals\n \n \n \n The proceeds of the Private Placement will be held in escrow until the satisfaction of certain conditions (the \"\n \n Es...

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