From Financialpost · · 1m 10s
Purecore Announces $2.5M Private Placement
Purecore Metals plans to raise up to $2.5 million through non-brokered private shares and flow-through units.
In brief
Purecore Metals plans to raise up to $2.5 million through non-brokered private shares and flow-through units. Purecore Metals Inc. will raise up to C$2.5 million via non-brokered private placement for mineral exploration and critical mineral projects. Originally reported by Financialpost.
Purecore Metals Announces Offering
Purecore Metals Inc. (CSE: PURE) (FSE: J8Y) (OTCQB: PPURF) intends to complete a non-brokered private placement for aggregate gross proceeds of up to C$2,500,000.
Offering Structure
The Offering includes hard dollar units at C$1.35 each and flow-through units at C$1.50 each.
Hard Dollar Units Details
Each HD Unit includes one Common Share and one Warrant to acquire a Warrant Share at C$2.00 for 36 months.
Flow-Through Units Details
Each FT Unit includes one flow-through Common Share and one Warrant to acquire an additional non-flow-through Common Share at C$2.00 for 36 months.
Warrant Acceleration Clause
Warrants may expire early if the Common Shares reach C$2.50 for ten consecutive trading days after four months from closing.
Use of Proceeds
Net proceeds will fund mineral exploration, property acquisitions, and general corporate activities including marketing and investor relations.
The bottom line
Purecore Metals Inc. will raise up to C$2.5 million via non-brokered private placement for mineral exploration and critical mineral projects.
