NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Baselode Energy Corp. is pleased to announce the closing of a first tranche of a non-brokered private placement . Under the first tranche, the Company sold 7,627,704 flow-through units of the Company at a price of C$0.48 per FT Unit for gross proceeds to the Company of C$3,661,298 . Each FT Unit will consist of one …
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
Baselode Energy Corp. (“Baselode” or the “Company”) (TSXV: FIND) (OTCQB: BSENF) is pleased to announce the closing of a first tranche of a non-brokered private placement (the “Offering”). Under the first tranche, the Company sold 7,627,704 flow-through units of the Company (the “FT Units”) at a price of C$0.48 per FT Unit for gross proceeds to the Company of C$3,661,298 . Each FT Unit will consist of one common share of the Company to be issued as a “flow-through share” within the meaning of the Income Tax Act ( Canada ) (each, a “FT Share”) and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant issued under the first tranche will entitle the holder thereof to purchase one common share (each, a “Warrant Share”) at a price of C$0.75 at any time on or before August 30, 2023 .
Net proceeds from the Offering will be used for exploration work at the Company’s Catharsis, Hook and Shadow projects. Work at these projects includes...
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