Halcones Precious Metals Completes Private Placement Offering
Halcones Precious Metals Corp. (TSXV: HPM) has successfully closed its non-brokered private placement financing, which was oversubscribed and raised a total of $1,060,000. This offering included 21,200,000 units, each priced at $0.05.
Details of the Private Placement Offering
Each unit is made up of one common share and one-half of a common share purchase warrant. A full warrant gives the holder the right to buy an additional common share at an exercise price of $0.10, valid for 36 months from the closing date of the offering. The Company expects a holding period of four months and one day for the issued securities, in accordance with applicable securities laws.
Use of Proceeds from the Offering
Halcones plans to use the net proceeds from this offering to explore and assess mineral properties for potential acquisition, as well as to support its general corporate working capital needs. This strategic approach aims to strengthen the Company’s position in developing gold-silver projects.
Finder's Fees and Insider Participation
As part of the offering, Halcones paid a finder’s fee of $38,500 in cash and issued 770,000 non-transferable finder’s warrants. Each finder’s warrant allows the holder to acquire a common share at $0.05 for a period of 36 months following the closure of the offering. Notably, an officer of the Company participated by subscribing for 2,000,000 units in this offering.
Insider Participation Remarks
The involvement of the officer is considered a related party transaction under Multilateral Instrument 61-101, which exempts it from the need for formal valuation and minority shareholder approvals.
About Halcones Precious Metals Corp.
Halcones Precious Metals Corp. is committed to the exploration and development of gold-silver mining projects, particularly in the Maricunga Belt, known as South America's leading gold mining region. The Company has a skilled team recognized for its successful exploration efforts in this area.
Contact Information
For further details, please reach out to:
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.
