Source: Churchill Resources Inc.
  • Churchill Resources (CRI) has closed a non-brokered private placement for gross proceeds of approximately $695,000
  • The offering consisted of 34,170 flow-through units at $0.15 per FT unit
  • Net proceeds will be used for the exploration of the company’s key projects in Newfoundland and Labrador
  • Churchill Resources holds three exploration projects the Taylor Brook Project, Pelly Bay in Nunavut and White River in Ontario
  • Churchill Resources Inc. (CRI) opened trading at C$0.095

Churchill Resources (CRI) has closed its previously announced non-brokered private placement for gross proceeds of approximately $695,000.

The offering consisted of 34,170 flow-through units at $0.15 per FT unit. Each unit consisted of one flow-through common share and one-half of one common share purchase warrant.  Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.22 for a period of 24 months following the closing date of the offering.

Net proceeds will be used for the exploration of the company’s key projects in Newfoundland and Labrador. 

Red Cloud Securities Inc. acted as a finder and received a cash finder’s fee of $45,853.50 and 305,690 finder warrants.

The securities issued are subject to a statutory four-month hold period.

Churchill Resources is a newly listed explorer focused on high-grade nickel sulphide and diamond projects in Canada. The company holds three exploration projects: Taylor Brook Project, Pelly Bay in Nunavut and White River in Ontario. 

Churchill Resources Inc. (CRI) opened trading at C$0.095.


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