- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Happy Creek Completes First Tranche of $172,800 Private Placement
Happy Creek Minerals Ltd. (TSXV:HPY, the “Company”) is pleased to announce that it has closed the first tranche of its non-brokered financing announced November 27, 2018.
Happy Creek Minerals Ltd. (TSXV:HPY, the “Company”) is pleased to announce that it has closed the first tranche of its non-brokered financing announced November 27, 2018. The Company has completed the sale of 864,000 flow-through shares at a price of $0.20 per flow-through share for gross proceeds of $172,800.
In connection with the offering, the Company paid finder’s fees totalling $5,096 in cash and issued 21,840 broker warrants. Each broker warrant is exercisable into one common share of the Company at a price of $0.30 for a period of two years.
The net proceeds of the private placement will be used to conduct mineral exploration work that qualifies as Flow Through Exploration Expense under the Income Tax Act (Canada), and for general working capital and additional exploration, engineering or development work contemplated by the Company. Exploration expenditures will be primarily focused on the Company’s Fox tungsten and Highland Valley copper properties.
The securities issued in connection with the offering are subject to resale restrictions expiring on April 29, 2019.
In connection with the non-brokered private placement, the Company issued 325,000 common shares to persons that are directors or senior officers of the Company. The Company has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101”) are available for the issuance of the common shares to these related parties. The Company relied on Section 5.5(c) of MI 61-101 for an exemption from the formal valuation requirement on the basis that the transaction is a distribution of securities for cash, and Section 5.7(b) of MI 61-101 for an exemption from the minority approval requirement as the fair market value of the transaction is not more than $2,500,000.
On behalf of the Board of Directors,
“David E Blann”
____________________
David E Blann, P.Eng.
President, CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
David Blann, President, CEO
Phone: 604.662.8310
Email: Info@happycreekminerals.com
Website: www.happycreekminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Click here to connect with Happy Creek Minerals Ltd (TSXV:HPY) for an Investor Presentation.
Source: www.thenewswire.com
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.