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Power Ore Closes Final Tranche of Non-Brokered Private Placement
Power Ore Closes Final Tranche of Non-Brokered Private Placement Canada NewsWire ...
About this update from Xxix Metal Corp.
[{"type":"text","content":"\n\n\n\nPower Ore Closes Final Tranche of Non-Brokered 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, Jan. 24, 2020\n\n\n\nTORONTO, Jan. 24, 2020 /CNW/ - PowerOre Inc. (\"Power Ore\" or the \"Company\") (TSX.V: PORE) is pleased to announce that it has closed its final tranche and hard dollar portion of its non-brokered private placement (the 'Offering'). This private placement was allocated to a single Quebec investment fund, Société de développement de la Baie James (SDBJ). Terms of this financing were agreed to in parallel with the Company's first tranche which was closed and announced on December 23, 2019. \nAggregate proceeds of the private placement was $150,000. Upon closing of the Offering, the Company issued 3,000,000 units (the \"Hard Dollar Units\"), at a price of $0.05 per Hard Dollar Unit, 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 $0.07 for a period of 24 months from the date of issuance. No finders fees were paid in connection to this financing. \nIn accordance with applicable securities laws in Canada, the common shares and warrants issued as part of 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 exemption from such registration is available.\nAbout Opemiska Copper Mine Complex\nThe Opemiska Copper Complex is located adjac...