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Zonte Metals (TSXV:ZON) has closed its previously announced non-brokered private placement offering of units–13,500,000 units were issued at $.10 per unit for proceeds of $1.35 million. As quoted in the press release: Each Unit consists of one common share and one-half (½) of one share purchase warrant, with each whole warrant entitling the holder to …
Zonte Metals (TSXV:ZON) has closed its previously announced non-brokered private placement offering of units–13,500,000 units were issued at $.10 per unit for proceeds of $1.35 million.
As quoted in the press release:
Each Unit consists of one common share and one-half (½) of one share purchase warrant, with each whole warrant entitling the holder to acquire one additional common share upon payment of the exercise price of $0.18 on or before July 31, 2018. The Company intends to use the proceeds of the Offering for working capital purposes.
The Company will also issue 280,250 Finder Warrants and pay cash finders’ fees aggregating $68,635 on the closing of the Offering. Each Finder Warrant entitles the holder to purchase one common share of the Company at an exercise price of $0.18 per share at any time prior to July 31, 2018.
The securities issued pursuant to the Offering (including the Units and Finder Warrants) are subject to a four-month and one day statutory hold period that will expire on June 1, 2017. Following the closing of the Offering, Zonte will have 40,124,426 shares issued and outstanding.
