- StraightUp Resources (ST) has closed an oversubscribed non-brokered private placement for gross proceeds of $470,000
- The company issued 9,400,000 at a price of C$0.05 per unit
- Net proceeds from the offering will be used primarily for working capital
- StraightUp Resources Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada
- Straightup Resources Inc. (ST) opened trading at $0.085
StraightUp Resources (ST) has closed an oversubscribed non-brokered private placement financing for gross proceeds of $470,000.
The company issued 9,400,000 units at a price of C$0.05 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable by the warrant holder to acquire one additional common share at a price of $0.05 until January 27, 2025.
The company plans to use the proceeds from the offering primarily for working capital.
In consideration of the introduction to the company of investors in the offering, a total of $18,000 finder’s fee was paid in cash, and 360,000 finder’s units were issued in accordance with applicable securities laws and the policies of the Canadian Securities Exchange.
As a subscriber to the offering, Mark Brezer, a director and officer of the company, acquired 900,000 units.
Of the 9,400,000 units issued in connection with the offering, 5,000,000 units are free trading in accordance with the listed issuer financing exemption. The remaining 4,400,000 units are subject to a statutory four-month hold period expiring on May 28, 2023.
StraightUp Resources Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada.
Straightup Resources Inc. (ST) opened trading at $0.085.