- Sherpa II Holdings (SHRP) has announced a non-brokered private placement of up to $470,000
- The company will use proceeds from unit sales for working capital purposes
- It will use gross proceeds from flow-through units for exploration expenditures at the Bakar Property on Vancouver Island
- The offering is expected to close on or about November 19, 2021
- Sherpa II Holdings is a Canadian junior mineral exploration company with an 80-per-cent undivided interest in B.C.’s Bakar Claims
- Sherpa II Holdings (SHRP) closed unchanged trading at $0.10 per share
Sherpa II Holdings (SHRP) has announced a non-brokered private placement of up to $470,000.
The company will offer up to 1,500,000 units and up to 3,500,000 flow-through units.
Each unit consists of one common share and one common share purchase warrant priced at $0.08 per unit.
Each warrant entitles the holder to purchase one additional non-flow through common share for $0.12 for 24 months from the closing of the offering.
The company will use proceeds from unit sales for working capital purposes.
Each flow-through unit consists of one flow-through common share and one common share purchase warrant priced at $0.10 per unit.
Each flow-through warrant entitles the holder to purchase one additional non-flow through common share for $0.15 for 24 months from the closing date.
The flow-through shares are governed by the tenets of the Income Tax Act (Canada).
Sherpa will use gross proceeds from flow-through units for exploration expenditures at the Bakar Property on northwestern Vancouver Island.
The Bakar Claims consist of eight unpatented mineral claims covering 15,686.88 hectares near the town of Holberg, B.C. The property, classified as a redbed copper-silver prospect, is located near the past-producing Island Copper Mine, Hushamu Deposit and the Red Dog Deposit.
Channel sampling by previous owner District Metals (DMX) returned 10 m at 4.92 per cent copper and 27.7 g/t silver.
The offering is expected to close on or about November 19, 2021.
Sherpa II Holdings is a Canadian junior mineral exploration company with an 80-per-cent undivided interest in B.C.’s Bakar Claims.
Sherpa II Holdings (SHRP) closed unchanged trading at C$0.10 per share.