- Churchill Resources (CRI) has increased the maximum gross proceeds of the company’s private placement from $2,500,000 to $3,500,000
- The company will issue both non-flow-through units and flow-through units
- The offering is scheduled to close on or around March 31, 2022
- Proceeds will be used to fund the exploration of the company’s key projects
- Churchill Resources holds three exploration projects the Taylor Brook Project, Pelly Bay in Nunavut and White River in Ontario
- Churchill Resources Inc. (CRI) is down 14.1 per cent on the day, trading at C$0.335 per share at 2:15 pm EST
Churchill Resources (CRI) has increased the maximum gross proceeds of the company’s private placement from $2,500,000 to $3,500,000.
The company will issue units priced at $0.32 and flow-through units priced at $0.35. Each unit will include one common share and one half of one common share purchase warrant. Each FT unit will consist of one common share to be issued as a “flow-through share” and one-half of one warrant. Each warrant shall entitle the holder to purchase one additional share at a price of C$0.48 for 24 months after the closing date of the offering.
The warrants are subject to an acceleration clause.
The agents have an over-allotment option, exercisable up to 48 hours prior to the closing of the offering to sell up to an additional $500,000 of units.
Proceeds will be used to fund the exploration of the company’s key projects and for general working capital purposes.
The offering is scheduled to close on or around March 31, 2022.
All securities issued will be subject to a statutory hold period of four months from the closing date of the offering.
The agents will receive a commission as well as broker warrants Churchill Resources holds three exploration projects the Taylor Brook Project, Pelly Bay in Nunavut and White River in Ontario.
Churchill Resources Inc. (CRI) is down 14.1 per cent on the day, trading at C$0.335 per share at 2:15 pm EST.