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Visionary Copper and Gold Mines Inc. Closes First Tranche of Private Placement Financing
Globenewswire· 2025-12-09 16:53
Core Points - Visionary Copper and Gold Mines Inc. has closed the first tranche of a non-brokered private placement, issuing 1,613,815 hard dollar units at a price of C$0.75 per unit, resulting in gross proceeds of C$1,210,361 [1][2] Group 1: Private Placement Details - Each hard dollar unit consists of one common share and one-half of a transferable common share purchase warrant, with each warrant exercisable into one additional common share at an exercise price of C$1.10 for two years from closing [2] - The company is also offering up to 1,333,333 flow-through units at a price of C$1.11 per unit for gross proceeds of up to C$1,480,000, and up to 267,175 Manitoba flow-through units at a price of C$1.31 per unit for gross proceeds of up to C$350,000 [3] - The gross proceeds from the sale of flow-through units will be used for eligible Canadian exploration expenses related to the Pt. Leamington Project, with all qualifying expenditures renounced in favor of the subscribers effective December 31, 2025 [4] Group 2: Insider Participation and Regulatory Compliance - Insiders of the company subscribed for 229,482 hard dollar units for gross proceeds of C$172,111, which is considered a related party transaction subject to Multilateral Instrument 61-101 [5] - The closing of the offering is subject to acceptance by the TSX Venture Exchange [6] Group 3: Company Overview - Visionary Copper and Gold Mines Inc. is advancing its portfolio of base and precious metals deposits, including the 100% owned Point Leamington Deposit in Newfoundland, which has an indicated mineral resource of 5.0 million tonnes grading 2.5 g/t AuEq for 402,000 ounces AuEq [8] - The company is also permitting the Rainbow deposit at its Pine Bay Project, with an indicated mineral resource of 3.44 million tonnes grading 3.59% CuEq for 272.4 million pounds CuEq [9]
Mink Ventures Upsizes Previously Announced Private Placement Up To $1,000,000
Globenewswire· 2025-10-02 15:02
Core Viewpoint - Mink Ventures Corporation has increased its non-brokered private placement offering from gross proceeds of up to $500,000 to $1,000,000 due to additional investor demand [1] Offering Details - The Offering will consist of hard dollar units (HD Units) priced at $0.10 each and flow-through units (FT Units) priced at $0.13 each [1] - Each HD Unit includes one common share and one warrant, allowing the holder to acquire one common share at an exercise price of $0.20 for 36 months [2] - Each FT Unit consists of one flow-through common share and one FT warrant, with similar terms as the HD Units [3] Tax Implications - FT Shares will be issued as "flow-through shares" under the Income Tax Act (Canada), with proceeds used for eligible resource exploration expenses [4] - Qualifying expenditures will be renounced to initial purchasers of FT Units by December 31, 2025 [4] Use of Proceeds - The net proceeds from the Offering will be allocated to the exploration and advancement of the Montcalm nickel copper cobalt project and the Warren copper nickel project, as well as for general working capital [5] Closing Conditions - The Offering is subject to customary closing conditions, including approval from the TSX Venture Exchange, and may close in multiple tranches starting around October 15, 2025 [6] - Finder's fees may be paid to introducing parties, consisting of up to 8% cash and non-transferable warrants [6] Company Overview - Mink Ventures Corporation is a Canadian mineral exploration company focused on critical minerals in Ontario, with a portfolio that includes the Montcalm and Warren projects [7] - The Montcalm project is adjacent to Glencore's former Montcalm Mine, which historically produced 3.93 million tonnes of ore with grades of 1.25% Ni, 0.67% Cu, and 0.051% Co [7] - The company has 25,678,888 common shares outstanding [7]