- Corcel Exploration Inc. (CRCL) has completed its initial public offering of 5.75 million common shares
- Shares were priced at $0.10 per share for total gross proceeds of $575,000
- In connection with Research Capital Corporation’s services under the agency agreement, Corcel Exploration has granted the agent 460,000 non-transferrable share purchase warrants with each agent’s warrant exercisable into one share at the price of $0.10 per share for two years after the date of closing
- Corcel Exploration intends to use the proceeds from the offering for the exploration and development of the Peak Mineral Property, located in British Columbia, Canada
- Corcel Exploration is a mineral resource company engaged in the acquisition and exploration of mineral resource properties
- Corcel Exploration Inc. (CRCL) shares are now listed on the CSE and will begin trading on December 3, 2021, under the symbol “CRCL”
Corcel Exploration (CRCL) has completed its initial public offering for total gross proceeds of $575,000.
The company issued 5.75 million common shares priced at $0.10 per share.
The offering was led by Research Capital Corporation pursuant to the agency agreement dated October 13, 2021.
In connection with the agent’s services under the agency agreement, Corcel Exploration has granted the agent 460,000 non-transferable share purchase warrants. Each agent’s warrant is exercisable into one share at the price of $0.10 per share for two years after the date of closing.
The offer includes the over-allotment option granted by the company to the agent to purchase an additional 750,000 shares at the offering price, which was exercised in full.
In addition, Corcel Exploration paid the agent a cash commission of $46,000, representing 8 per cent of the gross proceeds raised in the offering, and a corporate finance fee of $35,000 plus GST, and further reimbursed certain expenses of the agent.
Corcel Exploration intends to use the proceeds from the offering for the exploration and development of the Peak Mineral Property, located in British Columbia.
Corcel Exploration has an option to acquire up to an undivided 100 per cent interest according to a previous option agreement and for other general corporate purposes.
Corcel Exploration is a mineral resource company engaged in the acquisition and exploration of mineral resource properties. Its objective is to locate and develop precious metals, focusing initially on the exploration and development of the Peak Mineral property.
Corcel Exploration Inc. (CRCL) shares are now listed on the CSE and will begin trading on December 3, 2021, under the symbol “CRCL.”
