Canada Silver Announces Quebec Flow-through Private Placement
Canada Silver Cobalt Works Inc. (TSXV: CCW) announced today that it has closed a non-brokered, arms-length, flow-through private placement of up to 5,100,000 units for gross proceeds of up to $5,100,000.
The company intends to use the proceeds of the placement to fund its ongoing exploration activities on its Quebec based properties, the Currie and Mouth War property. The funds will also be used to explore community relationships and potential development opportunities in the provinces of Quebec, Ontario, and British Columbia.
This placement is an offering of units at a price of $1.00 per unit. Each unit were comprised of one flow-through common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at an exercise price of $1.50 per share until five years from the closing of the placement.
John Ryan, President and CEO of Canada Silver Cobalt stated, “This is a great opportunity for our shareholders to participate in the exploration programs at the Currie and Mouth War properties and to benefit from the flow-through incentives associated with this offering in the Province of Quebec.”
The common shares issued under the placement and common shares issuable on the exercise of the warrants will be subject to a statutory hold period of four months and one day. Finder’s fees of up to 6% of the gross proceeds of the placement may be paid on the closing of the placement.
This announcement comes at a time of great interest in the company’s Quebec based properties, which have been identified as having the potential to host silver and cobalt mineralization. The company is carrying out an ongoing exploration program to further evaluate and develop the potential of these properties.
Canada Silver Cobalt is focused on building a sustainable business for the long-term through the sustainable development of the world-class silver and cobalt properties in the heart of Canada. This private placement is only the beginning of a long term discovery and development process that will produce significant returns for shareholders.
Canada Silver Announces Quebec Flow-through Private Placement
Canada Silver Cobalt Works Inc. (TSXV: CCW) announced today that it has closed a non-brokered, arms-length, flow-through private placement of up to 5,100,000 units for gross proceeds of up to $5,100,000.
The company intends to use the proceeds of the placement to fund its ongoing exploration activities on its Quebec based properties, the Currie and Mouth War property. The funds will also be used to explore community relationships and potential development opportunities in the provinces of Quebec, Ontario, and British Columbia.
This placement is an offering of units at a price of $1.00 per unit. Each unit were comprised of one flow-through common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the company at an exercise price of $1.50 per share until five years from the closing of the placement.
John Ryan, President and CEO of Canada Silver Cobalt stated, “This is a great opportunity for our shareholders to participate in the exploration programs at the Currie and Mouth War properties and to benefit from the flow-through incentives associated with this offering in the Province of Quebec.”
The common shares issued under the placement and common shares issuable on the exercise of the warrants will be subject to a statutory hold period of four months and one day. Finder’s fees of up to 6% of the gross proceeds of the placement may be paid on the closing of the placement.
This announcement comes at a time of great interest in the company’s Quebec based properties, which have been identified as having the potential to host silver and cobalt mineralization. The company is carrying out an ongoing exploration program to further evaluate and develop the potential of these properties.
Canada Silver Cobalt is focused on building a sustainable business for the long-term through the sustainable development of the world-class silver and cobalt properties in the heart of Canada. This private placement is only the beginning of a long term discovery and development process that will produce significant returns for shareholders.
