Macdonald Mines Clarifies Financing Terms
10/12/22, 9:36 PM
Location
torontoIndustry
mineral
mining
MacDonald Mines Exploration Ltd. (TSXV:BMK) (“MacDonald Mines” or the “Company”), further to its press release of October 12, 2022, wishes to clarify that the $1.5m non-brokered financing (the “Offering”) will consist of (i) up to a maximum of up to $500,000 of units (the “Units”) at a price of $0.10 per Unit, and (ii) up to $1,000,000 of Class A common shares (the “FT Shares”), each such share qualifying as a “flow-through share” within the meaning of the Income Tax Act (Canada), at a price of $0.13 per FT Share. Each Unit will consist of one Class A common share (a “Common Share”) in the capital of the Company and one-half (1/2) of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”) of the Company. Each Warrant shall be exercisable to acquire one Common Share at a price of C$0.15 per share for a period of 24 months from the closing date of the Offering
Company Info
Location
toronto, ontario, canada
Additional Info
MacDonald Mines Exploration Ltd. is a Canadian precious metals explorer headquartered in Toronto, Canada and primarily involved in the identification, acquisition and development of properties in Ontario, Canada. Led by an experienced management and technical team, the Company has built a portfolio of safe-jurisdiction, infrastructure-rich projects that demonstrate the greatest market potential for return. MacDonald is focused on advancing development at its SPJ Gold Project, located approximately 40 kilometres east of Sudbury, Ontario, Canada. The Company’s current exploration program is focused on extending known showings and discovering new gold-cobalt-copper-nickel-silver mineralized zones in this under-explored polymetallic district.