The private placement has been over-subscribed with a total of 5,180,175 units (the 'Units') at a price of
Proceeds from the Offering will be used to fund exploration at La Adelita project in Sonora State,
The securities issued in connection with the Offering, including any Common Shares issued upon exercise of the Warrants and Compensation Warrants, are subject to a four month restricted resale period that expires on
Completion of the Offering will be subject to all necessary approvals, including the approval of the TSX-V.
The Offering included subscriptions from certain insiders of the Company. The issuances of Units to certain insiders, pursuant to the Offering, is considered a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Company has relied on exemptions from the formal valuation and minority approval requirements in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of these related party transactions on the basis that the fair market value (as determined under MI 61-101) of the transactions do not, in aggregate, exceed 25% of the market value of the Company.
A finder's fee was paid in connection with the placement to finders as determined by mutual agreement between the Company and the finders and subject to
Contact:
Anna Okopnaya
Tel: +525534417980
Email: anna@infinitumcopper.com
About
Backed by a strong team of industry veterans,
Cautionary Note Regarding Forward-Looking Statements
This press release contains 'forward-looking information' within the meaning of Canadian securities legislation. The forward-looking information contained in this press release represents the expectations of the Company as of the date of this press release and, accordingly, is subject to change after such date. Forward-looking information is based on, among other things, opinions, assumptions, estimates and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, are inherently subject to significant risks, uncertainties, contingencies and other factors that may cause actual results and events to be materially different from those expressed or implied by the forward-looking information. The risks, uncertainties, contingencies and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information may include, but are not limited to, risks generally associated with the Company's business, as described in the Company's Filing Statement dated
(C) 2022 Electronic News Publishing, source