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Armory Mining Closes Oversubscribed Private Placement
Thenewswire· 2025-08-25 21:05
Core Points - Armory Mining Corp. has successfully closed an oversubscribed non-brokered private placement offering, raising a total of $803,000 by issuing 16,060,000 units at a price of $0.05 per unit [1][4] Group 1: Offering Details - Each unit consists of one common share and one transferable common share purchase warrant, allowing the holder to acquire an additional common share at $0.065 until August 25, 2028 [2] - The company paid cash finder's fees of $54,350 and issued 1,028,000 finder's warrants, which are also exercisable at $0.065 until August 25, 2028 [3] - Additionally, 1,300,000 common shares were issued to an advisor for financial advisory and consulting services related to the offering [3] Group 2: Use of Proceeds - The proceeds from the offering are intended for working capital and general corporate purposes [4] Group 3: Company Overview - Armory Mining Corp. is focused on minerals critical to the energy, security, and defense sectors, controlling an 80% interest in the Candela II lithium brine project in Argentina and a 100% interest in the Riley Creek antimony-gold project in British Columbia [5]
Omega Pacific Closes First Tranche of Offering
Newsfile· 2025-08-18 20:43
Core Points - Omega Pacific Resources Inc. has closed the first tranche of its non-brokered private placement, raising a total of $292,500 [1] - The proceeds from the offering will be allocated to an exploration program on the Williams Property and for general working capital [1] Group 1: Offering Details - The first tranche included the sale of 570,372 flow-through units for gross proceeds of $77,000 and 2,155,000 non flow-through units for gross proceeds of $215,500 [1] - Each non flow-through unit consists of one common share and one share purchase warrant exercisable at $0.15 for a two-year period [2] - Each flow-through unit consists of one flow-through common share and one share purchase warrant exercisable at $0.20 for a two-year period [3] Group 2: Finder's Fees and Warrants - The company paid a total of $16,450 in cash and issued 155,426 finder's warrants to eligible finders [4] - The finder's warrants include 25,926 exercisable at $0.135 and 129,500 exercisable at $0.10, both for up to two years [4] Group 3: Regulatory and Tax Considerations - All securities issued are subject to a hold period of four months and one day from the date of issuance [5] - The flow-through shares will qualify as "flow-through shares" under the Income Tax Act (Canada) and will be used to incur "Canadian exploration expense" [5] Group 4: Company Focus - Omega Pacific is focusing its resources on the Williams Property after terminating its option agreement for the Lekcin property [6] - The Williams Property is located in BC's Toodoggone District, which is gaining attention from major mining companies [7] - In 2024, Omega Pacific discovered a significant bulk tonnage gold system at the GIC Prospect on the Williams Property [7]