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Power Ore Announces $925,000 Private Placement
Power Ore Announces $925,000 Private Placement Canada NewsWire TORONTO, Aug. 21,...
About this update from Xxix Metal Corp.
[{"type":"text","content":"\n\n\n\nPower Ore Announces $925,000 Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 21, 2020\n\n\n\nTORONTO, Aug. 21, 2020 /CNW/ - Power Ore Inc. (\"Power Ore\" or the \"Company\") (TSX.V: PORE) is pleased to announce that it will close on a non-brokered private placement for aggregate proceeds of $925,000 (the \"Offering\"). \nPower Ore CEO Stephen Stewart is purchasing approximately 4% of the shares issued in this Offering. Upon closing of the Offering, the Company will issue:\n4,684,333 Flow-Through Units (\"FT Units\") at a price of $0.09 per unit for gross proceeds of $421,589.98, where each FT Unit consists of one flow through common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.14 for a period of 24 months from the date of issuance.6,712,134 Units (\"Hard Dollar Units\") at a price of $0.075 per unit for gross proceeds of $503,410.02, where each Hard Dollar Unit consists of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.14 for a period of 24 months from the date of issuance.In accordance with applicable securities laws in Canada, the common shares and warrants issued as part of the Flow-Through Units and the Hard Dollar Units under this Offering will be subject to a four month and one day hold period from the date of closing of the Offering.\nThis news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an ex...