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Sunset Cove Mining (TSXV:SSM) will be proceeding with a non-brokered private placement of up to $500,000 comprised of up to 4,761,905 units at a price of CAD $0.105 per unit.
Each Unit consists of one (1) common share and one-half (1/2) share purchase warrant. One whole warrant provides the holder with the right to purchase one (1) additional share for $0.18 per Share. The warrants expire in 18 months from the closing and are subject to an “Acceleration Right” in favor of the Corporation. Should the shares of the Company close at $0.25 or higher for five (5) consecutive days, the expiry of the warrants will accelerate and expiry will be twenty (20) days from issuance of a news release by the Corporation announcing the trigger of the acceleration right.
Click here to read the Sunset Cove Mining (TSXV:SSM) press release
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