- Churchill Resources (CRI) has closed its upsized private placement of charity flow-through shares for proceeds of C$2 million
- Proceeds will go toward the exploration of the company’s key projects, which may include Taylor Brook, Florence Lake, Pelly Bay and White River
- Gross proceeds will be used for Canadian exploration expenses within the meaning of the Income Tax Act of Canada
- Churchill develops exploration projects in Newfoundland, Labrador, Nunavut and Ontario
- Churchill Resources (CRI) is unchanged trading at $0.30 per share
Churchill Resources (CRI) has closed its upsized private placement of charity flow-through shares for proceeds of C$2 million.
The company sold 5,000,000 common shares for $0.40 per share.
Due to strong investor demand, the offering was upsized from $1.5 million.
Proceeds will go toward the exploration of the company’s key projects, which may include Taylor Brook, Florence Lake, Pelly Bay and White River.
Paul Sobie, Churchill’s CEO, commented,
“We are very grateful for the continued support of our existing shareholders and excited to welcome new institutional resource funds into the fold who subscribed for the majority of this financing. We look forward to kicking off our fall 2021 field season and advancing our projects in the coming weeks.”
Churchill develops exploration projects in Newfoundland, Labrador, Nunavut and Ontario.
Churchill Resources (CRI) is unchanged trading at $0.30 per share as of 2:12 pm ET.
