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Sparton Resources Inc. Final Private Placement Closing and Updates
Globenewswire· 2025-12-12 22:30
Core Viewpoint - Sparton Resources Inc. has successfully completed a non-brokered private placement offering, raising a total of C$410,000 from both tranches, with the final tranche closing on December 12, 2025 [1] Group 1: Private Placement Details - The second closing involved the issuance of 5,285,715 National Flow-Through Share (NFTS) Units at C$0.035 per unit, generating proceeds of C$185,000 [2] - Each NFTS Unit consists of one common share and one-half of a non-flow-through Share Purchase Warrant (SPW), totaling 2,642,858 full SPWs, which allow the purchase of one common share at C$0.08 within 12 months [2] - Additionally, 500,000 non-flow-through share units (SU) were issued at C$0.03 per unit, each including one common share and one-half warrant, with a full warrant allowing the purchase of one common share at C$0.05 for up to 2 years [3] Group 2: Use of Proceeds - Gross proceeds from the NFTS issuance will be allocated exclusively for resource exploration expenses qualifying as "Canadian exploration expenses" and "flow-through mining expenditures" under the Income Tax Act [4] - The expenditures will be renounced to NFTS purchasers with an effective date no later than December 31, 2025, in an amount equal to or greater than the gross proceeds raised [4] - Proceeds will support exploration activities for the Company's Critical Metals projects in Ontario, particularly focusing on the Pense polymetallic metals project, which has identified mineralization of zinc, copper, and nickel [8] Group 3: Corporate Updates - The Company has awarded and approved the issuance of 4,200,000 incentive options to Directors, Officers, and Consultants, which vest immediately and allow the purchase of common shares at C$0.03 per share, valid for three years [9] - Drilling activities are ongoing on the Quebec Pense Project claims, with a new Expert Geophysics Target EM survey completed in previously unexamined areas [10]
Cosa Closes Upsized C$7.5 Million Private Placement
Newsfile· 2025-12-04 14:25
Core Viewpoint - Cosa Resources Corp. has successfully closed a brokered private placement, raising C$7,500,000.74, with significant participation from its largest shareholder, Denison Mines Corp. [1][2] Group 1: Offering Details - The Offering consisted of 11,538,462 hard dollar units at C$0.26 per unit, 7,537,690 charity flow-through units at C$0.398 per unit, and 5,000,000 flow-through common shares at C$0.30 per share [3][4] - The net proceeds from the sale of units will be used for exploration and working capital, while proceeds from charity flow-through units and flow-through shares will fund eligible Canadian exploration expenses related to uranium projects in the Athabasca Basin [5] Group 2: Shareholder Participation - Denison Mines Corp. participated in the Offering, increasing its ownership in Cosa to 18.59% on a partially-diluted basis [2] - Denison, with a market capitalization of approximately C$3 billion, is focused on advancing the Wheeler River project, one of the largest undeveloped uranium mining projects in the Athabasca Basin [2] Group 3: Insider Transactions - Certain directors and officers of Cosa and Denison subscribed for a total of 2,607,692 units and 616,669 flow-through shares, raising C$863,000.62 [8] - This participation is classified as a related-party transaction, exempt from formal valuation and minority approval requirements due to the transaction's size [8] Group 4: Future Plans - Cosa's focus for 2026 includes drilling at the Darby and Murphy Lake North projects, which are joint ventures with Denison [14] - Drilling at Darby will target areas with historical mineralization, while Murphy Lake North will follow up on previous drilling results that indicated broad zones of alteration [14]
Scottie Announces Closing of Its Previously Announced Non-Brokered Financing
Newsfile· 2025-12-03 22:00
Core Points - Scottie Resources Corp. has successfully closed a non-brokered private placement financing, issuing 11,327,420 charitable flow-through shares at a price of $2.14 per share, resulting in gross proceeds of $24,240,678.80 [1][3] - Ocean Partners UK Limited led the offering with an investment of approximately $5 million, contributing to a total of $6,903,224.84 in charitable flow-through funding [1][6] - The proceeds from the offering will be allocated to eligible Canadian exploration expenses related to the Scottie Gold Mine Project in British Columbia [3] Financial Details - The cash commissions paid to finders in connection with the offering amounted to $153,450, along with the issuance of 99,000 non-transferable finder's warrants, each allowing the purchase of one common share at an exercise price of $1.76 for 24 months [4] - The offering is subject to final acceptance from the TSX Venture Exchange, with all securities issued being subject to a hold period expiring on April 4, 2026 [5] Shareholder Information - Following the investment, Ocean Partners' ownership increased from approximately 10.87% to 13.51% of the company's issued and outstanding common shares [6] - The investment by Ocean Partners is classified as a related-party transaction, and the company is relying on exemptions from minority shareholder approval and formal valuation requirements [8] Company Overview - Scottie Resources Corp. holds a 100% interest in the Scottie Gold Mine Property, which includes the Blueberry Contact Zone and the past-producing Scottie Gold Mine [9] - The company also owns the Georgia Project and the Cambria Project properties, totaling approximately 58,500 hectares of mineral claims in the Stewart Mining Camp within the Golden Triangle of British Columbia [10][11]
NioBay Metals Announces Brokered Life Offering and Concurrent Private Placement for Gross Proceeds of Up to C$5 Million
Globenewswire· 2025-12-01 12:00
Core Viewpoint - NioBay Metals Inc. has announced a private placement agreement with Red Cloud Securities Inc. to raise up to C$5,000,000 for its James Bay Niobium Project and general corporate purposes [1][4]. Group 1: Offering Details - The private placement will consist of Units, FT Units, and Charity FT Units, with each Unit comprising one common share and one warrant [2][3]. - The pricing for the Units is set at C$0.14, FT Units at C$0.16, and Charity FT Units at C$0.21 [8]. - An additional option allows Red Cloud to sell up to C$1,000,000 in any combination of Units, FT Units, and Charity FT Units prior to the closing [3]. Group 2: Use of Proceeds - The net proceeds from the Offering will be allocated to the exploration and advancement of the James Bay Niobium Project, as well as for working capital and general corporate purposes [4]. - Proceeds from the sale of FT Shares will specifically be used for eligible Canadian exploration expenses related to the James Bay Niobium Project [5]. Group 3: Regulatory and Compliance - The Offering will comply with applicable regulatory requirements and will be offered in several Canadian provinces under the Listed Issuer Financing Exemption [6][7]. - The Offering is scheduled to close on December 18, 2025, subject to necessary regulatory approvals [10]. Group 4: Company Overview - NioBay aims to lead in low carbon consumption mining practices while ensuring the participation of Indigenous communities in its operations [12]. - The company holds a 100% interest in the James Bay Niobium Project and a 72.5% interest in the Crevier Niobium and Tantalum project [12]. Group 5: Industry Context - Niobium is a highly valuable metal used in various sectors, enhancing material properties and reducing environmental impacts [13].
Abitibi Metals Increases Previously Annouced Bought Deal Financing to C$14 Million
Globenewswire· 2025-11-26 14:27
Core Viewpoint - Abitibi Metals Corp. has announced an increase in its previously announced bought offering to raise approximately C$14 million through the sale of charity flow-through common shares and hard dollar common shares [1][3]. Group 1: Offering Details - The offering consists of 17,550,000 charity flow-through common shares priced at C$0.57 each and 11,430,000 hard dollar common shares priced at C$0.35 each [1]. - The total gross proceeds from the offering are expected to be around C$14 million [1]. - The underwriters have an option to purchase up to an additional 15% of the offering to cover overallotments within 30 days following the closing [1]. Group 2: Use of Proceeds - Gross proceeds from the charity flow-through common shares will be allocated for the advancement of the Company's B26 Polymetallic Deposit [3]. - Net proceeds from the common shares will be used for general corporate purposes [3]. Group 3: Regulatory and Tax Information - The offering is expected to close on or about December 16, 2025, pending necessary regulatory approvals [2]. - Each charity flow-through common share qualifies as a "flow-through share" under Canadian tax law, providing tax benefits to eligible Québec resident subscribers [2]. Group 4: Company Overview - Abitibi Metals Corp. focuses on acquiring and exploring mineral properties in Quebec, emphasizing high-quality base and precious metal assets with significant growth potential [5].
Metalero Mining (MLO) Announces Extension of Private Placement
Newsfile· 2025-11-22 01:20
Core Viewpoint - Metalero Mining Corp. is extending its price protection for a non-brokered private placement to December 9, 2025, to complete subscriptions for its Offering [1] Group 1: Offering Details - The Offering consists of up to 1,428,572 flow-through units priced at $0.21 per unit, each unit includes one flow-through common share and one common share purchase warrant [2] - Each warrant allows the holder to purchase an additional non flow-through common share at a price of $0.26 for two years from issuance [2] - The first tranche of the Offering closed on October 21, 2025, with the sale of 952,381 flow-through units [2] Group 2: Use of Proceeds - Proceeds from the Offering will be utilized to support the Fall 2025 exploration work at the Benson Project, including further sampling and ground geophysics [3] Group 3: Tax Implications - All flow-through shares offered qualify as "flow-through shares" under the Income Tax Act (Canada), and qualifying individuals under the BC Tax Act will have these expenditures qualify as "BC flow-through mining expenditures" [4] Group 4: Conditions and Approvals - The Offering is subject to conditions including necessary approvals from the TSX Venture Exchange, and all securities issued will have a hold period of four months and a day after the closing date [5] Group 5: Company Overview - Metalero Mining Corp. is a Canadian junior exploration company focused on copper and gold projects in North America, with its flagship Benson Project covering 166 square kilometers and hosting five prospects containing gold and copper [7]
Nexcel Gives an Update to Private Placement
Newsfile· 2025-11-22 00:00
Core Viewpoint - Nexcel Metals Corp. is conducting a non-brokered private placement to raise up to $3,500,000 through the issuance of flow-through (FT) and non-flow-through (NFT) units, aimed at funding exploration activities and general expenses [1][2]. Group 1: Private Placement Details - The private placement will consist of up to 1,190,476 FT Units priced at $0.42 each for gross proceeds of up to $500,000, and up to 8,571,428 NFT Units priced at $0.35 each for gross proceeds of up to $3,000,000 [9]. - Each FT Unit includes one flow-through common share and one warrant, allowing the purchase of a non-flow-through common share at $0.50 for 24 months [3]. - Each NFT Unit consists of one non-flow-through common share and one warrant, allowing the purchase of a non-flow-through common share at $0.45 for 24 months [4]. Group 2: Use of Proceeds - Gross proceeds from the FT Units will be allocated to Canadian exploration expenses on the Lac Ducharme Property in Quebec and the Burnt Hill Property in New Brunswick, qualifying as flow-through mining expenditures [5]. - Net proceeds from the NFT Units will be used for additional exploration work, general administrative expenses, and working capital [7]. Group 3: Regulatory and Approval Aspects - The private placement is not subject to a minimum aggregate offering amount, and there are no undisclosed material facts related to the company [2]. - The issuance of securities may exceed 100% of the current number of outstanding common shares, requiring shareholder approval, which has been obtained from shareholders holding over 50% of the outstanding shares as of November 7, 2025 [6]. Group 4: Closing and Hold Period - The closing of the private placement is anticipated around December 5, 2025, subject to customary conditions, with all securities issued being subject to a four-month and one-day statutory hold period from the closing date [8].
GFG Upsizes Flow-Through Private Placement
Globenewswire· 2025-10-29 22:25
Core Points - GFG Resources Inc. has announced an increase in its private placement of premium flow-through units and flow-through shares to raise gross proceeds of up to C$4.23 million [1][2] Offering Details - The offering will consist of up to 11,880,188 Premium Units priced at C$0.2224 each and up to 8,550,129 FT Shares priced at C$0.185 each, with a maximum aggregate gross proceeds of C$4.23 million [2] - Each Premium Unit includes one common share and one-half of a share purchase warrant, with each whole warrant allowing the purchase of an additional common share at C$0.24 for 24 months [2] - The offering is expected to close on or about November 3, 2025, subject to necessary approvals, including from the TSX Venture Exchange [3] Regulatory Compliance - The FT Shares and Premium Units will be offered under the Listed Issuer Financing Exemption, meaning they will not be subject to a hold period under Canadian securities laws [4] - The company may pay finder's fees of up to 6% of the aggregate gross proceeds raised [3] Insider Participation - Certain insiders of the company are expected to participate in the offering, which will be considered a related party transaction [5] - The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements for this participation [5] Company Overview - GFG Resources Inc. is focused on precious metals exploration, particularly in gold projects located in tier one mining jurisdictions [7] - The company operates three gold projects in the Timmins gold district of Ontario, Canada, which has produced over 70 million ounces of gold [7]
Cascade Copper Closes Financing
Thenewswire· 2025-10-08 21:00
Core Points - Cascade Copper Corp. has successfully closed a non-brokered private placement of units, raising a total of $401,255 through three tranches [1][2][3] Offering Details - The offering included 2,875,000 Critical Minerals FT Units priced at $0.04 each and 8,178,713 Non-Flow-Through Units priced at $0.035 each, with each unit consisting of one common share and one-half common share purchase warrant [2] - Each full warrant is exercisable into a common share at a price of $0.07 for a period of 24 months from the closing date of each tranche [2] Regulatory Compliance - The offering was subject to necessary regulatory approvals, including acceptance from the Canadian Securities Exchange, and all securities issued are subject to a four-month hold period under Canadian securities laws [3] Insider Participation - The offering included participation from insiders, which is classified as a related party transaction. The company is relying on exemptions from valuation requirements and minority approval as the value of the units subscribed does not exceed 25% of the company's market capitalization [4] Use of Proceeds - Proceeds from the sale of FT Shares will primarily fund eligible Critical Mineral Canadian Exploration Expenses and exploration programs in Ontario and British Columbia, while proceeds from Non-Flow-Through shares will be allocated for general working capital [5] Future Plans - The company intends to renounce Qualifying Expenditures to subscribers of Flow-Through Units for the fiscal year ending December 31, 2025, and to incur necessary expenditures by December 31, 2026 [6] Company Overview - Cascade Copper is an exploration stage natural resource company focused on evaluating, acquiring, and exploring copper-based mineral resource properties, with a priority on modern exploration technologies [6] - The company has five projects, including the Copper Plateau Copper-Moly Project and the Centrefire Copper Project, with drilling planned for several copper projects this year [6]
Red Canyon Closes Over-Subscribed Financing Backed By Strategic Lead Order
Thenewswire· 2025-09-18 19:35
Core Points - Red Canyon Resources Ltd. has completed a non-brokered charity flow-through private placement, issuing 8,525,295 Charity Flow Through Common Shares at a price of $0.272 per share, resulting in gross proceeds of $2,318,880 [1][2] - Teck Resources Limited acquired a 9.9% equity interest in Red Canyon through the purchase of 6,301,868 common shares at a back-end price of $0.17 per share, contributing $1,714,108 to the gross proceeds [2] - The proceeds from the Charity FT Offering will be used for eligible Canadian exploration expenses related to the Kendal project and other projects in British Columbia, with a deadline for expenditure by December 31, 2026 [4] Summary by Sections Charity FT Offering - The Charity FT Offering involved the issuance of 8,525,295 Charity FT Shares at $0.272 each, generating gross proceeds of $2,318,880 [1] - The offering was facilitated by PearTree Securities Inc., which did not receive any fees or commissions [5] Investment and Shareholder Participation - Teck Resources Limited's investment of $1,714,108 represents a 9.9% equity interest in Red Canyon, acquired through the Charity FT Offering [2] - Existing major shareholder Crescat Capital LLC also participated in the financing, maintaining its equity ownership [2] Tax Implications - Each Charity FT Share qualifies as a "flow-through share" under the Income Tax Act (Canada) [3] - The flow-through critical mineral mining expenditures will be eligible for a federal 30% investment tax credit for eligible individual investors, with an additional 20% tax credit for those in British Columbia [4] Future Rights and Agreements - An Investor Rights Agreement has been established with Teck, granting them the right to participate in future share issuances to maintain their equity ownership [6] Company Overview - Red Canyon Resources Ltd. is focused on mineral exploration in North America's top copper jurisdictions, with a portfolio of 100% owned copper and copper-gold porphyry exploration projects [7] - The company is part of the NewQuest Capital Group, which invests in mineral projects and companies [8]