Business
Zonte Metals Increases the Size of Its Non-Brokered Private Placement
Zonte Metals Increases the Size of Its Non-Brokered Private Placement Canada NewsW...
About this update from Zonte Metals Inc.
[{"type":"text","content":"\n\n\n\nZonte Metals Increases the Size of Its 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. 30, 2019\n\n\n\nTSXV: ZON\n HALIFAX, Dec. 30, 2019 /CNW/ - Zonte Metals Inc (TSXV: ZON) (\"Zonte\" or the \"Company\") announces that, due to increased demand, it has increased the size of its previous announced non-brokered private placement to $1.4 million consisting of 4,183,167 flow through shares at a price of $0.30 and 723,044 Units at a price of $0.23 (the \"Offering\") for total proceeds of $1,421,250, subject to TSX Venture Exchange (the \"Exchange\") approval. Each Unit will consist of one common share and one-half (½) of one share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share at a price of $0.35 for a period of 18 months from the date of issuance. If the closing share price of the common shares on the TSX Venture Exchange is greater than $0.50 per common share for a period of 20 consecutive trading days at any time following the issuance of the Warrants, 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 30th calendar day after the date of the press release. 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 $86,109 in cash and will issue 298,300 Finders' Warrants to Eligible Finders. 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 $0.50 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 da...