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  • Sun Summit Minerals Corp. (SMN) increases its non-brokered private placement to raise gross proceeds of up to $6 million
  • The offering includes charity flow-through (CFT) units for $0.63, flow-through (FT) units for $0.52 and non-flow-through (NFT) units for $0.45 each
  • Sun Summit will pay a cash commission and issue warrants to eligible finders
  • Net proceeds will be used to fund exploration at its Buck Property and other potential Canadian properties
  • Sun Summit Minerals Corp.(SMN) is down 3.30 per cent and is trading at $0.44 per share as of 4:16 p.m. EST

Sun Summit Minerals (SMN) has increased its non-brokered private placement to raise gross proceeds of up to $6 million.

The offering includes charity flow-through (CFT) units priced at $0.63 each, flow-through (FT) units for $0.52 each, and non-flow-through (NFT) units for $0.45 each.

Each FT and CFT unit includes one common share and one-half of one common share purchase warrant.

Each NFT unit will consist of one common share and one half of a warrant. Each warrant will entitle the purchase of one non-flow-through common share for two years at a price of $0.70.

Sun Summit will pay a cash commission and issue warrants to eligible finders. Each finder warrant will entitle the purchase of one warrant share at a price of $0.70 for two years after the close of the offering.

Net proceeds will be used to fund further exploration of its Buck Property and other Canadian properties it may acquire. The offering is scheduled to close around March 16.

Sun Summit Minerals Corp.(SMN) is down 3.30 per cent and is trading at $0.44 per share as of 4:16 p.m. EST.

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