Each FT Unit consists of one common share of the Company that qualifies as a flow-through share (for purposes of the Income Tax Act (
The Company intends to use the gross proceeds of the FT Offering to incur 'Canadian exploration expenses' and 'flow-through critical mineral mining expenditures' as defined in the Income Tax Act (
Additionally, the Company would like to announce that it has arranged a non-brokerage non-flow through private placement of up to 4,000,000 units (the 'NFT Units') of the Company at a price of
Proceeds from the NFT Offering will be used for exploration of the Company's mineral properties as well as for general operation expenses.
The common shares, share purchase warrants and shares underlying the share purchase warrants from the FT Offering and the NFT Offering will be subject to a four-month-and-one-day statutory hold period from the date of issuance. Closing of the FT Offering and NFT Offering remains subject to the receipt of all regulatory approvals, including the approval of the
About
Contact:
President, CEO and Director
Tel: 1-403-597-3410
Forward Looking Statements
Statements included in this announcement, including statements concerning the Company's plans, intentions, and expectations, which are not historical in nature are intended to be, and are hereby identified as, 'forward-looking statements.' Forward-looking statements may be identified by words including 'anticipates,' 'believes,' 'intends,' 'estimates,' 'expects' and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
(C) 2023 Electronic News Publishing, source