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QC Copper Announces Upsize to Private Placement of Flow-Through Shares
QC Copper Announces Upsize to Private Placement of Flow-Through Shares Canada N...
About this update from Xxix Metal Corp.
[{"type":"text","content":"\n \n \n \n QC Copper Announces Upsize to Private Placement of Flow-Through Shares\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 /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 6, 2021\n \n /CNW/ - QC Copper and Gold Inc. (\"\n \n QC Copper\n \n \" or the \"\n \n Company\n \n \") (TSXV: QCCU) is pleased to announce that due to strong investor demand it has amended the terms of its previously announced \"best efforts\" private placement financing to increase the size of the offering. The Company has entered into an amending agreement with Cormark Securities Inc. (\"\n \n Cormark\n \n \"), on behalf of a syndicate of agents (collectively, the \"\n \n Agents\n \n \"), pursuant to which the Agents have agreed to act as agents in connection with a \"best efforts\" private placement offering of 10,100,000 common shares in the capital of the Company that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) and section 359.1 of the\n \n Taxation Act\n \n (Québec)) (the \"\n \n FT Shares\n \n \") at a price of\n \n $0\n \n .60 per FT Share (the \"\n \n Issue Price\n \n \") for gross proceeds of\n \n $6,060\n \n ,000 (the \"\n \n Offering\n \n \").\n \n \n The Agents will have the option, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering, to arrange for the sale of up to an additional 1,515,000 FT Shares at the Issue Price.\n \n \n The gross proceeds from the issuance of the FT Shares will be used for Canadian exploration expenses and will qualify as \"flow-through mining expenditures\", as defined in subsection 127(9) of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) and under section 359.1 of the\n \n Taxation Act\n \n (\n \n Quebec\n \n ) (the \"\n \n Qualifying Expenditures\n \n \"), which will be incurred on or before\n \n Decemb...