Sulliden Mining arranges $700,000 private placement
Sulliden Mining Capital Inc. has arranged a non-brokered private placement financing of up to 10 million common shares of the company at a price of seven cents per common share for proceeds to the company of $700,000.
All common shares issued in connection with the offering will be subject to a statutory hold period of four months and one day. Completion of the offering is subject to a number of conditions, including the approval of the Toronto Stock Exchange. The company intends to use the net proceeds of the offering for general corporate purposes. The offering is expected to close on or about Nov. 30, 2019.
Finders' fees may be paid to eligible finders in accordance with the policies of the TSX, consisting of a cash commission equal to up to 7 per cent of the gross proceeds raised under the offering and finders' warrants in an amount equal to up to 7 per cent of the number of common shares sold pursuant to the offering. Each finder's warrant will entitle the holder thereof to purchase one common share at a price of 10 cents per common share for a period of 24 months following the closing date of the offering.
About Sulliden Mining Capital Inc.
Sulliden is a venture capital company focused on acquiring and advancing brownfield, development-stage and early-production-stage mining projects in the Americas.
We seek Safe Harbor.