- Canasil (CLZ) has closed its non-brokered private placement for for total proceeds of $708,750
- The company issued 4,350,000 units at $0.125 per unit and 1,100,000 flow-through shares at $0.15 per share
- Of the total proceeds received, $645,750 will be used for drill programs on the company’s silver-gold projects in Mexico
- Canasil is a Canadian-based mineral exploration company with exploration projects in Durango and Zacatecas States, Mexico
- Canasil Resources Inc. (CLZ) opened trading at C$0.13 per share
Canasil (CLZ) has closed its previously announced non-brokered private placement for total proceeds of $708,750.
The company issued 4,350,000 units at $0.125 per unit and 1,100,000 flow-through shares at $0.15 per share.
The initial placement was increased from $500,000 to $650,000.
The closing of the placement is subject to final acceptance by the TSX Venture Exchange.
The securities issued are subject to hold periods expiring four months and one day after the date of issuance. Finder’s fees of $19,350 are payable on part of the proceeds of the placement.
The 4,350,000 units consist of one common share and one half of one non-transferable share purchase warrant. Each whole warrant will be exercisable to purchase one additional common share at a price of $0.20 during the first year, increasing to $0.25 in year two following the closing of the offering.
The company has also received $102,000 from the exercise of 850,000 warrants.
Of the total proceeds of $810,750 received, $645,750 will be used for drill programs on the company’s silver-gold projects in Durango and Zacatecas States, Mexico, and for working capital, and the proceeds from the flow-through shares will be used to fund qualifying exploration programs on the company’s copper-gold projects in BC.
Canasil is a Canadian mineral exploration company with a portfolio of silver-gold-copper-lead-zinc exploration projects in Durango and Zacatecas States, Mexico.
Canasil Resources Inc. (CLZ) opened trading at C$0.13 per share.