Each Unit will be comprised of one common share in the share capital of the Company (each, a 'Common Share') and one common share purchase warrant of the Company (each, a 'Warrant'). Each Warrant will entitle the holder thereof to purchase one Common Share (each, a 'Warrant Share') at an exercise price of
The Company will also grant the Agent the option (the 'Over-Allotment Option'), exercisable in whole or in part by the Agent giving notice to the Company at any time up to the closing of the Offering, to sell up to an additional 15% worth of Units sold pursuant to the Offering (the 'Additional Units') at the Issue Price. The Agent shall be under no obligation whatsoever to exercise the Over-Allotment Option, in whole or in part. If the Offering is fully subscribed and the Over-Allotment Option is exercised in full, the aggregate gross proceeds of the Offering shall be of
The Company has agreed to pay a cash commission to the Agent equal to 8.0% of the gross proceeds of the Offering, including in respect of any Additional Units issued upon exercise of the Over-Allotment Option. The Company has further agreed to grant the Agent with an option to purchase Units equal to 8.0% of the total number of Units issued under the Offering at the Issue Price, including those Units issued pursuant to the exercise of the Over-Allotment Option, for a period of 36 months after the closing of the Offering.
The Offering will be made concurrently in the provinces of
The Offering will be made pursuant to an agency agreement (the 'Agency Agreement') on a commercially reasonable agency efforts basis to be entered into between the Company and the Agent and is set to close no later than as of
The Company intends to use the proceeds received from the Offering for ongoing exploration activities, to provide general working capital and to fund expenditures in connection with potential acquisitions.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in
About
Fairchild is engaged in the business of mineral exploration and the acquisition of mineral property assets in
Contact:
Tel: (604) 290-6152
Email: rcoltura@matalia.ca
Forward-Looking Statements
This news release includes certain forward-looking statements and forward-looking information (collectively, 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future capital expenditures, anticipated content, commencement, and cost of exploration programs in respect of the Company's projects and mineral properties, anticipated exploration program results from exploration activities, resources and/or reserves on the Company's projects and mineral properties, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as 'pro forma', 'plans', 'expects', 'will', 'may', 'should', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', 'believes', 'potential' or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, statements as to the anticipated business plans and timing of future activities of the Company, including the Company's option to acquire the Fairchild Lake Property, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the
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