Vancouver, British Columbia–(August 19, 2024) – A mineral exploration company, referred to as the “Company,” recently completed the second and final tranche of a non-brokered private placement. This placement raised $249,000 in gross aggregate proceeds through the issuance of 6,225,000 units. Including the proceeds from the first tranche, the Company raised a total of $349,000 and issued 8,725,000 units.
Each unit consists of one common share and one share purchase warrant. The share purchase warrant entitles the holder to purchase one additional share at a predetermined price. The proceeds from the second tranche will be utilized for the advancement of the Company’s flagship Newton Project in British Columbia, as well as for general working capital.
No finder’s fees were paid in connection with the second tranche, although the Company paid aggregate finder’s fees of $4,800 and issued 120,000 finder’s warrants in connection with the first tranche. All securities issued are subject to a statutory hold period as per National Instrument 45‐102 – Resale of Securities.
The Company also issued a consultant with 487,538 common shares in consideration of services rendered. These shares were issued in compliance with the applicable policies of the Canadian Securities Exchange and are subject to a four-month hold period.
The Company is a mineral exploration company focused on acquiring, exploring, and developing mineral resource properties. It owns and operates the Newton Project in the Clinton Mining Division of B.C. The Company is listed on the Canadian Securities Exchange, the OTC Market, and the Frankfurt Exchange.
For more information, interested parties can contact the Company’s CEO and Director, Morgan Good. The Company cautions readers that forward-looking statements contain inherent risks and uncertainties that may impact actual results. The Company does not undertake to update any forward-looking statements unless required by applicable securities laws.
Not for distribution to U.S. news wire services or dissemination in the United States.
SOURCE: Carlyle Commodities Corp.
