- Mink Ventures (MINK.P) updated the terms of a non-brokered private placement in connection with its proposed qualifying transaction with Voltage Metals
- The offering will consist of both hard dollar subscription receipts at $0.14 per HD subscription receipt and flow-through subscription receipts at $0.17 per FT subscription receipt
- HD subscription receipts for gross proceeds of $395,000 and FT subscription receipts for gross proceeds of $480,00
- Mink Ventures (MINK.P) is a capital pool company that has acquired an option to earn an 80 per cent interest in the Montcalm Ni-Cu-Co project as its qualifying transaction property
- Mink Ventures (MINK.P) is trading at C$0.08 as of 1:35 pm ET
Mink Ventures (MINK.P) has updated the terms of a non-brokered private placement in connection with its proposed qualifying transaction with Voltage Metals.
The offering will consist of both hard dollar subscription receipts at $0.14 per HD subscription receipt and flow-through subscription receipts at $0.17 per FT subscription receipt.
Mink will offer a minimum of 2,821,428 HD subscription receipts and a maximum of 4,285,714 HD subscription receipts for gross proceeds of $395,000. In the case of the minimum offering and up to $600,000 in the case of the maximum offering. Each HD subscription receipt entitles the holder to receive, upon the satisfaction or waiver of certain escrow release conditions, 120 days from the closing of the offering. Each HD unit will consist of 1 common share and 1 purchase warrant. Each HD warrant entitles the holder to acquire 1 common share of the company for 36 months from the date of issuance at $0.20 for the first 18 months and an exercise price of $0.25 for the remaining 18 months.
Mink will also offer a minimum of 2,823,529 FT subscription receipts and a maximum of 3,529,411 FT subscription receipts for gross proceeds of $480,000. In the case of the minimum offering and up to $600,000 in the case of the maximum offering. Each FT subscription receipt entitles the holder to 1 unit. Each FT unit consists of 1 common share of the company issued on a flow-through basis and 1 purchase warrant. Each FT warrant entitles the holder to acquire 1 common share of the company for 36 months from the date of issuance at $0.20 for the first 18 months and an exercise price of $0.25 for the remaining 18 months.
The HD subscription receipts and FT subscription receipts will be offered pursuant to the terms of subscription receipt agreements to be entered into between Mink and Odyssey Trust Company as subscription receipt agents.
Finders may be paid a cash commission of 8 per cent and a number of finder’s warrants equal to 8 per cent of the subscription receipts sold to investors introduced by the finder.
Mink Ventures (MINK.P) is a capital pool company that has acquired an option to earn an 80 per cent interest in the Montcalm Ni-Cu-Co project as its qualifying transaction property.
Mink Ventures (MINK.P) is trading at C$0.08 as of 1:35 pm ET.
