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Newfoundland Discovery Closes First Tranche of its $1.5 Million Financing24.11.2021 | 15:19 Uhr | Newsfile
Vancouver, November 24, 2021 - Newfoundland Discovery Corp. (CSE: NEWD) (OTC Pink: NEWDF) (FSE: M4K) ("Newfoundland Discovery" or the "Company") is pleased to announce that it has closed the first $778,000 tranche of its previously announced $1.5 million non-brokered private placement, which includes a $500,000 lead order from Mr. Eric Sprott. In its first tranche, Newfoundland Discovery issued 1,895,000 non-flow-through units at a price of $0.40 per unit and 40,000 flow-through units at a price of $0.50 per unit. Each non-flow-through unit consists of one non-flow-through common share and one-half of a warrant. Each full warrant, in turn, allows the holder to purchase one non-flow-through share at $0.60 during the first year following the closing and $0.80 during the second year. Each flow-through unit comprises one flow-through common share and one-half of a warrant. Each full warrant, in turn, allows the holder to purchase one non-flow-through share at $0.75 during the first year following the closing and $1.00 during the second year. The proceeds from the offering will be used for exploration of the Company's Newfoundland properties and for working capital. The securities will be subject to a hold period until March 25, 2021. The Company paid cash finders' fees totaling $16,680 and 34,250 finders' warrants in respect of the first tranche. The Company relied on subsections 5.5(b) and 5.7(1)(a) of Multilateral Instrument 61-101 to exempt the offering from the requirements for a formal valuation and minority shareholder approval. To the Company's knowledge, neither it nor the purchasers have knowledge of any material information concerning the Company or its securities that has not been generally disclosed. About Newfoundland Discovery Corp. On Behalf of the Board of Directors, "Blair Naughty" Corporate Communications & Investor Relations www.newfoundlanddiscovery.ca Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statement To view the source version of this press release, please visit https://www.newsfilecorp.com/release/104969 Dieser Artikel stammt von Rohstoff-Welt.de
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