Morocco Strategic Minerals Secures $1 Million in Private Placement
Closing of a Successful Private Placement
Morocco Strategic Minerals Corporation, known as MCC, has successfully closed a non-brokered private placement, raising a significant total of $1 million. This was achieved through the issuance of 10 million units, each priced at $0.10. This move marks a strong step towards expanding their operational capabilities and investing in future growth.
Details of the Offering
Each unit consists of one common share and one half of a common share purchase warrant. The complete warrant enables holders to purchase a common share at an exercise price of $0.15, valid for a period of two years. This offering remains subject to the final approval of the TSX Venture Exchange, signifying its compliance with industry regulations.
Allocation of Funds
The corporation plans to utilize the net proceeds from this offering to bolster its portfolio within Quebec and Morocco, targeting various development opportunities. These initiatives will not only aid in expanding their resource base but will also support essential working capital to ensure smooth operations.
Finder's Fees and Incentives
In connection with this financing, Morocco Strategic Minerals is set to pay total finder's fees of $70,000. Additionally, they will issue 700,000 warrants to facilitate the introduction of new subscribers. These steps reflect the company’s commitment to fostering beneficial relationships with partners and stakeholders.
Upcoming Participation in the PDAC Convention
The company is excited to invite shareholders and stakeholders to visit them at booth #3021 at the PDAC Convention, a prestigious event in the mining industry. Taking place at the Metro Toronto Convention Centre, it provides an excellent platform for Morocco Strategic Minerals to showcase its progress and connect with interested parties.
Reflection on Previous Private Placement
Earlier this year, under a separate tranche, Morocco Strategic Minerals successfully raised $239,000 by issuing approximately 2,987,500 units at a price of $0.08. Cumulatively, the two placements have provided the corporation with nearly $1.24 million, underpinning its strong financing strategy.
Digital Marketing Strategy
Moreover, the company recently partnered with Senergy Communications Capital Inc. for digital marketing services. This Vancouver-based firm specializes in aiding public companies in connecting with new investors through effective online strategies and advertising, enhancing Morocco Strategic Minerals’ outreach efforts.
Knowing Morocco Strategic Minerals
Morocco Strategic Minerals is distinguished by its drive to explore and develop natural resource properties in Canada and Morocco. The combination of a robust management team and strategic partnerships positions the company favorably within the mineral exploration sector, making it an interesting player to watch in the industry.
Contact Information
For further inquiries, individuals can reach out to Pierre-Olivier Goulet, Vice-President of Corporate Development at Morocco Strategic Minerals, via email at pogoulet@moroccosm.com or by phone at 1-450-821-5270. Additionally, Guy Goulet, President, and CEO can be contacted at ggoulet@moroccosm.com or by calling 1-514-294-7000.
Frequently Asked Questions
What is the total amount raised in the private placement?
The private placement raised a total of $1 million through the issuance of 10 million units.
What are the terms of the warrants issued?
Each whole warrant allows the purchase of one common share at an exercise price of $0.15 for 24 months.
How does Morocco Strategic Minerals plan to use the funds?
The funds will be allocated towards the development of their portfolio in Quebec and Morocco, as well as for general working capital purposes.
What is the significance of the PDAC Convention for the company?
The PDAC Convention allows Morocco Strategic Minerals to connect with shareholders and potential investors, providing networking and exposure opportunities in the mining sector.
Who can be contacted for more information?
Pierre-Olivier Goulet and Guy Goulet provide contact points for inquiries related to Morocco Strategic Minerals.
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