- Helmo Explorers Inc. is entering a non-brokered private placement for aggregate proceeds of up to $1,212,500
- The company is issuing 2.5 million units at a price of $0.225 and 2.5 million flow-through units at a price of $0.26
- Each flow-through unit will consist of one flow-through common share and half a warrant
- The proceeds of the offering will be used for the exploration of the Helmo area properties and for general corporate purposes
- Helmo Explorers Inc. (HLMO) is down 20 per cent and is trading at $0.24 per share at 11:10 a.m. ET
Helmo Explorers (HLMO) is entering a non-brokered private placement with Northfield Capital Corp. for aggregate proceeds of up to $1,212,500.
The company is issuing 2.5 million units at a price of $0.225 and 2.5 million flow-through units at a price of $0.26
Each unit will be comprised of one common share and half a common share purchase warrant.
Each flow-through unit will be made up of one flow-through common share and half a warrant.
Each warrant entitles the holder to acquire one common share at a price of $0.40 for 18 months after the closing of the offering.
The options are subject to an accelerated expiration clause if the shares trade at or above $0.80 per share for 20 consecutive days.
In that case, the company will have the right to accelerate the exercise period to end at least 30 days from the date that notice of acceleration is provided to the warrant holders.
The proceeds of the offering will be used for the exploration of the Helmo area properties, and for general corporate purposes.
Any securities that are issued in connection with the offering are subject to a hold period of four months and one day from the date of issuance.
Helmo may pay finder’s fees on a portion of the offering.
The offering is subject to the approval of the TSXV.
Helmo Explorers Inc. (HLMO) is down 20 per cent and is trading at $0.24 per share at 11:10 a.m. ET.