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Be the first with the news that moves the market- Mink Ventures (MINK.P) has closed its qualifying transaction and concurrent non-brokered private placement financing
- The company issued 2,915,071 HD subscription receipts and 2,845,686 FT subscription receipts for gross proceeds of $891,876.56
- The proceeds from the offering, once released from escrow, will be used to fund the phase one work program on the Montcalm Property
- Mink Ventures (MINK.P) is a capital pool company that has acquired an option to earn an 80 per cent interest in the Montcalm Ni-Cu-Co project as its qualifying transaction
- Mink Ventures (MINK.P) opened trading at C$0.08
Mink Ventures (MINK.P) has closed its qualifying transaction and concurrent non-brokered private placement financing.
The company issued 2,915,071 HD subscription receipts and 2,845,686 FT subscription receipts for gross proceeds of $891,876.56.
Upon closing of the qualifying transaction, each HD subscription receipt will be converted into one unit consisting of one common share and one common share purchase warrant. Each HD warrant shall entitle the holder to acquire one additional common share for a period of three years.
Each FT subscription receipt will be converted into one unit. Each FT unit consisted of one FT common share and one FT warrant. Each FT warrant shall entitle the holder to acquire one additional common share for a period of three years.
The proceeds from the offering were released from escrow on the closing of the qualifying transaction and will be used to fund the phase one work program on the Montcalm Property.
The company paid $50,398.39 and issued 333,738 finder’s warrants to eligible finders.
All securities issued upon conversion of the subscription receipts are subject to a statutory four-month hold period.
In connection with the closing of the qualifying transaction, the company issued 800,000 common shares to Voltage Metals Corp. and granted 656,075 stock options to certain directors and officers of the company.
Mink Ventures (MINK.P) is a capital pool company that has acquired an option to earn an 80 per cent interest in the Montcalm Ni-Cu-Co project as its qualifying transaction property.
Mink Ventures (MINK.P) opened trading at C$0.08.
