Halcones Precious Metals Completes Significant Financing
Halcones Precious Metals Completes Private Placement Offering
Halcones Precious Metals Corp. (TSXV: HPM) announces the successful closure of its non-brokered private placement financing, which was oversubscribed and raised gross proceeds of $1,060,000. The offering comprised 21,200,000 units, with each unit priced at $0.05.
Details of the Private Placement Offering
Each unit consists of one common share and one-half of a common share purchase warrant. Each full warrant allows the holder to purchase an additional common share at an exercise price of $0.10, valid for 36 months following the closing of the offering. The Company anticipates a holding period of four months and one day for the issued securities under applicable securities laws.
Use of Proceeds from the Offering
Halcones intends to utilize the net proceeds from the offering to identify and evaluate mineral properties for potential acquisition, in addition to supporting general corporate working capital needs. This strategic focus aims to enhance the Company’s capabilities in the developing gold-silver projects.
Finder's Fees and Insider Participation
In connection with the offering, Halcones paid a finder’s fee totaling $38,500 in cash and issued 770,000 non-transferable finder’s warrants. Each finder’s warrant grants the holder the option to acquire a common share at $0.05 for a period of 36 months post-offering closure. Notably, an officer of the Company subscribed for 2,000,000 units as part of the offering.
Insider Participation Remarks
The participation of the officer is classified as a related party transaction according to Multilateral Instrument 61-101, which exempts it from formal valuation requirements and minority shareholder approvals.
About Halcones Precious Metals Corp.
Halcones Precious Metals Corp. is dedicated to the exploration and development of gold-silver mining projects, particularly in the Maricunga Belt, renowned as South America's prime gold mining region. The Company boasts an experienced team known for its exploration successes in the area.
Contact Information
For more information, please contact:
Vincent Chen
Investor Relations
info@halconespreciousmetals.com
www.halconespreciousmetals.com
Frequently Asked Questions
What is the total amount raised in the private placement?
The total amount raised in the private placement is $1,060,000.
How many units were sold in the offering?
In the offering, 21,200,000 units were sold.
What does each unit consist of?
Each unit comprises one common share and one-half of one purchase warrant.
What are the exercise terms for the warrants?
Each warrant allows for the purchase of one common share at an exercise price of $0.10 for a period of 36 months.
What is the primary goal for the proceeds of the offering?
The primary goal for the proceeds is to identify and evaluate mineral properties for acquisition and support general corporate working capital needs.
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