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Zephyr arranges private placement
Zephyr arranges private placement Canada NewsWire HALIFAX, March 13, 2018 T...
About this update from Zephyr Minerals Ltd.
[{"type":"text","content":"\n\n\n\nZephyr arranges 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\nHALIFAX, March 13, 2018\n\n\n\nTrading Symbol: TSX-V: ZFR   OTC: ZPHYFShares Outstanding: 37,982,620\n\n\n\nHALIFAX, March 13, 2018 /CNW/ - Zephyr Minerals Ltd. (\"Zephyr\" or the \"Company\") (TSX-V: ZFR) (OTC: ZPHYF) is pleased to announce that it will undertake a non-brokered private placement to sell up to 8,350,000 units of the Company at a price of $0.18 per unit (a \"Unit\") for gross proceeds of up to $1,503,000. Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of $0.30 per common share at any time on or before the 12-month anniversary of the closing of the offering. \n\nThe expiry date of the warrants may be accelerated by Zephyr at any time if the volume-weighted average trading price of the common shares is greater than or equal to $0.375 for any 20 consecutive trading days. If this occurs, the Company may accelerate the expiry date of the warrants by issuing a press release announcing the reduced warrant term whereupon the warrants will expire on the 20th calendar day after the date of such press release. \n\nIn connection with the offering, a finder's fee may be paid consisting of a cash commission equal to 7% of the gross proceeds raised under the offering and that number of non-transferable finder's fee warrants as is equal to 7% of the number of shares. Each finder's fee warrant will be exercisable into one common share of the Company at $0.30 per share, for a period of 12 months from the closing date. Net proceeds from the funds raised will be used to advance the Dawson Gold Project (\"Dawson\") in Colorado, USA, and for general working capital purposes. All shares and warrants are subject to a four-month hold period.\n\nClosing of the non-brokered offering is anticipated to occur on or about April 6, 2018, and is subject to receipt of applicable regulatory approvals, including approval of the TS...