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Sorrento Resources Announces Closing of $3.2 Million Brokered Private Placement Offering
Newsfile· 2025-11-18 15:43
Core Viewpoint - Sorrento Resources Ltd. has successfully closed a private placement offering, raising gross proceeds of $3.2 million to support its exploration projects in Canada [1][3]. Summary by Sections Offering Details - The private placement offering generated aggregate gross proceeds of $3,175,000, led by Research Capital as the sole agent and bookrunner [1]. - The offering included the issuance of various securities, including Premium FT Units, FT Units, and standard Units, with specific pricing and terms outlined [8]. Use of Proceeds - The gross proceeds will be allocated to eligible Canadian exploration expenses (CEE), with half designated for flow-through critical mineral mining expenditures and the other half for general exploration expenses in Newfoundland and Labrador [3]. - Net proceeds will also support ongoing exploration drilling programs, working capital, and other corporate purposes [3]. Agent Compensation - The Company paid a cash commission of $171,300 to the agent and issued 573,400 broker warrants, along with an advisory fee of approximately $6,000 and additional advisory broker warrants [4]. Insider Participation - Insiders participated in the offering, acquiring a total of 880,000 units, which constitutes a related party transaction under applicable regulations [10]. - Canal Front Investments Inc. and Alex Bugden were among the insiders involved in the offering [6][10]. Debt Settlement - The Company entered into a debt settlement agreement to settle a $50,000 loan through the issuance of 200,000 units at a price of $0.25 per unit [11]. - Commitment warrants were also issued to Canal and Kluane as part of their loan agreements [12]. Company Overview - Sorrento Resources is focused on the acquisition, exploration, and development of mineral properties in Canada, with projects including the Wing Pond, Lord Baron, PEG lithium project, and Harmsworth [14].
Sorrento Resources Provides Update on Brokered Private Placement Offering
Newsfile· 2025-11-07 19:49
Core Viewpoint - Sorrento Resources Ltd. is set to close a brokered private placement offering by November 14, 2025, with a lead order from Mr. Eric Sprott, despite delays due to budget issues related to the charity component [1][2]. Offering Details - The offering aims to raise gross proceeds of up to $4,500,000, with the potential to increase to $5,175,000 if the Agent's Option is fully exercised [2][5]. - The offering will consist of three types of units: - Premium flow-through units priced at $0.35 each, including one common share and one warrant [2]. - Flow-through units priced at $0.30 each, including one common share and half a warrant [2]. - Regular units priced at $0.25 each, including one common share and one warrant [2]. Use of Proceeds - Net proceeds from the sale of Premium FT Units and FT Units will be allocated to eligible Canadian exploration expenses related to the company's projects in Newfoundland and Labrador [4]. - Proceeds from the sale of regular Units will be used for ongoing exploration drilling, working capital, and general corporate purposes [4]. Agent's Role and Fees - Research Capital Corporation will act as the sole agent and bookrunner for the offering, receiving a cash fee of 6.0% of the gross proceeds [8]. - The Agent will also receive non-transferable broker warrants equal to 6.0% of the total number of units sold, allowing the purchase of common shares at an exercise price of $0.25 for 24 months [8]. Securities Offering - The units will be offered via private placement in Canada and potentially in other jurisdictions, including the U.S., under applicable exemptions [6]. - The securities will have a hold period of four months and one day from the closing date [7]. Company Overview - Sorrento Resources Ltd. focuses on the acquisition, exploration, and development of mineral properties in Canada, targeting precious metals, rare-earth elements, and base metals [11].
Decade Resources Ltd. Announces $1.5 Million Private Placement
Newsfile· 2025-11-04 13:00
Core Points - Decade Resources Ltd. is conducting a non-brokered private placement financing to raise up to $1,500,000 [1] - The financing will include 32,500,000 flow-through units (FT Units) priced at $0.04 each, aiming to raise $1,300,000, and 5,000,000 non-flow-through units (NFT Units) priced at $0.04 each, aiming to raise $200,000 [6] - FT Units consist of one flow-through common share and one common share purchase warrant, while NFT Units consist of one common share and one common share purchase warrant [2] Financing Details - Each warrant for FT Units allows the holder to purchase one non-flow-through common share at $0.06 for two years from issuance [1] - Each warrant for NFT Units allows the holder to purchase one additional common share at $0.05 for three years from issuance [2] - The proceeds from FT Units will be allocated to projects in British Columbia, while proceeds from NFT Units will be used for general working capital and corporate purposes [2] Finder's Fees - The company may pay finder's fees of 8% of gross proceeds from certain subscriptions, along with finder's warrants equal to 8% of the units sold [3] - Each finder's warrant will be exercisable to acquire one common share at $0.06 for two years from issuance [3] Regulatory Compliance - The private placement is subject to acceptance by the TSX Venture Exchange, and all securities will have a four-month hold period from issuance [4]
Sorrento Resources Amends Brokered Private Placement Offering
Newsfile· 2025-10-23 15:48
Core Viewpoint - Sorrento Resources Ltd. has revised its private placement offering to raise up to $4,500,000, with potential gross proceeds increasing to $5,175,000 if the Agent's Option is fully exercised [1][4]. Offering Details - The offering includes three types of units: - Premium flow-through units priced at $0.35, consisting of one common share and one warrant [1] - Flow-through units priced at $0.30, consisting of one common share and half a warrant [1] - Regular units priced at $0.25, consisting of one common share and one warrant [1] - Each whole warrant allows the purchase of one common share at an exercise price of $0.35 for up to 24 months post-closing [2]. Use of Proceeds - Net proceeds from the Premium FT Units and FT Units will fund eligible Canadian exploration expenses related to the company's projects in Newfoundland and Labrador [3] - Proceeds from the regular Units will support ongoing exploration drilling, working capital, and general corporate purposes [3]. Closing and Conditions - The offering is expected to close around October 30, 2025, subject to necessary approvals, including from the Canadian Securities Exchange [6]. - The securities will have a hold period of four months and one day from the closing date [6]. Agent's Role and Compensation - Research Capital Corporation acts as the sole agent and bookrunner, receiving a cash fee of 6.0% of gross proceeds and broker warrants equal to 6.0% of the total units sold [7].
Emperor Metals Announces Closing of $10 Million LIFE Offering
Newsfile· 2025-10-09 14:11
Core Viewpoint - Emperor Metals Inc. has successfully closed a private placement offering, raising approximately $9,943,000 to fund its exploration projects in Quebec's Southern Abitibi Greenstone Belt [1][2]. Group 1: Offering Details - The private placement consisted of 14,714,999 Common Units priced at $0.20 each and 25,000,000 flow-through units priced at $0.28 each [1]. - The offering was led by SCP Resource Finance LP as the lead agent, with Canaccord Genuity Corp. as part of the syndicate [2]. - The securities were issued under the Listed Issuer Financing Exemption, which allows them to be sold without a hold period under Canadian securities laws [3]. Group 2: Use of Proceeds - Proceeds from the sale of the flow-through units will be used for eligible Canadian exploration expenses related to the Duquesne West Project and Lac Pelletier Project, with a deadline for incurring these expenses by December 31, 2026 [4]. - The net proceeds from the Common Units will be allocated for general and administrative expenses and working capital [5]. Group 3: Additional Information - The agents received 2,382,899 non-transferable broker warrants as part of their compensation, each exercisable for a Common Share at an exercise price of $0.20 [6]. - Some subscribers will settle their subscriptions directly with the company, with expected closures in the coming weeks [7]. - Emperor Metals is focused on high-grade gold exploration and development, utilizing AI-driven techniques to unlock resource potential in its projects [8].
PTX Metals Inc. Announces Private Placement Amendments
Newsfile· 2025-09-16 20:30
Core Viewpoint - PTX Metals Inc. is expanding its private placement offerings to raise up to $3,500,000 through a LIFE Offering and an additional $1,500,000 through a Non-LIFE Offering, aimed at funding corporate expenses and eligible exploration activities in Ontario [1][6][2]. Group 1: LIFE Offering Details - The LIFE Offering includes hard dollar units (HD Units) priced at $0.10 each and charity flow-through units (CFT Units) priced at $0.15 each, with a total target of $3,500,000 [1][7]. - Each Unit consists of one common share and one-half of a share purchase warrant, with the warrant exercisable at $0.16 for 36 months [1]. - The proceeds from the CFT Units will be allocated to Canadian exploration expenses related to the Company's projects, with expenditures to be incurred by December 31, 2026 [3]. Group 2: Non-LIFE Offering Details - The Non-LIFE Offering aims to raise up to $1,500,000 through flow-through units (FT Units) priced at $0.135 each and an additional $500,000 through CFT Units [6]. - FT Units will also consist of one common share and one-half of a warrant, with the CFT Units having identical terms to those in the LIFE Offering [6]. Group 3: Regulatory and Insider Participation - The offerings are being conducted under the Listed Issuer Financing Exemption, allowing for no hold period under Canadian securities laws [4]. - Insiders may participate in the offerings, which will be treated as related party transactions, exempting them from certain formal valuation and minority approval requirements [9]. Group 4: Closing and Additional Information - The closing of both offerings may occur in multiple tranches, with the final closing expected on September 26, 2025, subject to regulatory approvals [8]. - Eligible finders will receive a cash fee of 7% of the gross amount raised and finder warrants equal to 7% of the units issued [10].
Bonterra Announces Upsize of Brokered Private Placement to $10.5 million
Globenewswire· 2025-06-13 21:11
Core Points - Bonterra Resources Inc. has increased the size of its brokered private placement due to strong market demand, now targeting gross proceeds of up to approximately $10,500,000 [1][4] - The offering includes three types of units: up to 22,727,272 "hard-dollar" units at $0.22 each, up to 14,583,333 "flow-through" units at C$0.24 each, and up to 6,557,377 "Premium flow-through" units at C$0.305 each [1][3] - The completion of the offering is expected on June 30, 2025, subject to customary conditions and necessary approvals [4] Use of Proceeds - The net proceeds from the offering will be used to fund ongoing operations for the next twelve months [5] - Proceeds from the sale of HD Units will be allocated for general corporate and administrative matters [6] - Gross proceeds from FT Units and Premium FT Units will be used to incur eligible "Canadian exploration expenses" as defined in the Income Tax Act (Canada) [6]