- Casa Minerals has closed the first tranche of its $500,000 non-brokered private placement
- The initial tranche is comprised of 1,014,200 units at a price of $0.22 per unit
- All securities issued in conjunction with the initial tranche closing have a hold period of 4 four months and one day
- Proceeds will be used to fund exploration programs and for general expenses
- CASA Minerals Inc. (CASA) opened trading at C$0.27 per share
Casa Minerals (CASA) has closed the first tranche of its $500,000 non-brokered private placement.
The initial tranche is comprised of 1,014,200 units at a price of $0.22 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant shall be exercisable for one common share at $0.30 per share for a period of 12 months from the closing of the offering.
The warrants shall be subject to an acceleration clause. If the closing price of the shares on the TSXV is greater than $0.45 for 10 consecutive trading days, then the company may elect to provide notice to the warrant holders that the warrants will expire at 4:00 p.m. (Vancouver time) 30 days from the date of the notice. All warrants that are not exercised prior to the accelerated expiry date will expire.
All securities issued in conjunction with the initial tranche closing have a hold period of 4 four months and one day.
Proceeds will be used to fund exploration programs on the Pitman and Arsenault Projects in British Columbia, as well as exploration at the Congress Mine, Arizona. A portion will be used for general and administrative expenses.
Closing of this private placement is subject to final approval by the TSX Venture Exchange.
CASA Minerals Inc. (CASA) opened trading at C$0.27 per share.
