On October 31, 2024, Hemlo Explorers Inc. closed the transaction. The company announced that it has issued 27,100,000 units at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 1,355,000 and 12,900,000 flow-through shares at an issue price of CAD 0.05 per unit for the gross proceeds of CAD 645,000; aggregate gross proceeds of CAD 2.000.000. Each Unit is comprised of one common share and one Common Share purchase warrant with each Warrant entitling the holder thereof to acquire one Common Share, to be issued on a non-flow though basis, at a price of CAD 0.10 until October 31, 2027, but subject to accelerated expiry terms following the four month and a day hold period.
The company announced it has issued 2,560,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 128,000 to returning investor Northfield Capital Corporation. In connection with the closing of the Offering, the Company paid certain cash finders fees of CAD 67,350 and issued 1,347,000 finder?s warrants eligible finders in respect of subscriptions for Units and FT Shares referred by such finders. Each Finder?s Warrant is exercisable to acquire one Common Share at an exercise price of CAD 0.05 per Finder?s Warrant Share until October 31, 2027.
