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Zonte Metals Completes a $1.25 Million Non-Brokered Private Placement
Zonte Metals Completes a $1.25 Million Non-Brokered Private Placement Canada NewsW...
About this update from Zonte Metals Inc.
[{"type":"text","content":"\n\n\n\nZonte Metals Completes a $1.25 Million 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.prntar{\nTEXT-ALIGN: RIGHT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nHALIFAX, Dec. 23, 2019\n\n\n\nTSXV: ZON\n HALIFAX, Dec. 23, 2019 /CNW/ - Zonte Metals Inc (TSXV: ZON) (\"Zonte\" or the \"Company\") has completed a $1.25 million financing consisting of 4,166,667 flow through shares at a price of $0.30 (the \"Offering\") for total proceeds of $1,250,000, subject to TSX Venture Exchange (the \"Exchange\") approval.  The securities issued pursuant to the Offering will be subject to a four-month and one day statutory hold period.\nIn connection with the private placement, Zonte will pay finders' fees to Eligible Finders of $75,000 in cash, equal to 6% of the aggregate gross subscription proceeds received from the sale of securities from Eligible Finders; and will issue 250,000 Finders' Warrants. Each Finders' Warrant is exercisable at any time up to 18 months following its date of issuance to purchase one common share of the Company at an exercise price of $0.35 per share, subject to Exchange approval.  If the closing share price of the common shares on the TSX Venture Exchange is greater than $0.70 per common share for a period of 20 consecutive trading days at any time following the issuance of the Finders' Warrants, the Company may accelerate the expiry date of the Finders' Warrants by issuing a press release announcing the reduced warrant term whereupon the Finders' Warrants will expire on the 30th calendar day after the date of the press release.  All Finders' Fees will be subject to and in accordance with Exchange and regulatory policies and the securities issued pursuant to the Offering will be subject to a four-month and one day statutory hold period.\nThe Company intends to use the net proceeds of the Offering for exploration at the Cross Hills Iron Oxide Copper Gold Property, in Newfoundland and Labrador. The current drill program will extend through the winter and additional exploration over yet unexplored areas will be completed....