Business
XXIX Announces Closing of $6.0 Million Financing
Toronto, Ontario--(Newsfile Corp. - August 22, 2025) - XXIX Metal Corp. ( TSXV: XXIX ) (" XXIX " ...
About this update from Xxix Metal Corp.
[{"type":"text","content":"XXIX Announces Closing of $6.0 Million FinancingToronto, Ontario--(Newsfile Corp. - August 22, 2025) - XXIX Metal Corp. (TSXV: XXIX) (\"XXIX\" or the \"Company\") is pleased to announce that it has closed its previously announced \"best efforts\" private placement offering (the \"Offering\"). The Offering was led by Beacon Securities Limited (\"Beacon\") as lead agent and bookrunner, on behalf of a syndicate of agents including Canaccord Genuity Corp., SCP Resource Finance LP, and Haywood Securities Inc. (together with Beacon, the \"Agents\"). Pursuant to the Offering, the Company issued 24,800,000 Ontario charity flow-through units (the \"Ontario FT Units\") at a price of $0.121 per Ontario FT Unit (the \"Ontario FT Issue Price\") and 22,730,000 Québec charity flow-through units (the \"Québec FT Units\" and, together with the Ontario FT Units, the \"Offered Securities\") at a price of $0.132 per Québec FT Unit (the \"Québec FT Issue Price\") for combined gross proceeds to the Company of $6,001,160. Each Ontario FT Unit and Québec FT Unit consists of one common share of the Company (a \"FT Share\") and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a \"Warrant\"), each of which will qualify as a \"flow-through share\" within the meaning of (i) the Income Tax Act (Canada) (the \"Tax Act\"); (ii) the Taxation Act, 2007 (Ontario) with respect to the FT Shares and Warrants comprising the Ontario FT Units; and (iii) the Taxation Act (Québec) with respect to the FT Shares and Warrants comprising the Quebec FT Unit. Each Warrant entitles the holder thereof to acquire one non-flow-through common share of the Company (a \"Warrant Share\") at a price per Warrant Share of $0.12 for a period of 36 months from the closing of the Offering.The Offered Securities were issued pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\") and in reliance on the amendments to Part 5A of NI 45-106 set forth in Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (collectively, the \"Listed Issuer Financing Exemption\"). The Offered Securities issued under the Listed Issuer Financing Exemption are not subject to a hold period in Canada.The Company will use an amount equal to the g...