Monarch Mining Corporation announced that it has received CAD 0.999997 million in funding
On the same date, Monarch Mining Corporation closed the transaction. The company received CAD 999,997.15 in the transaction. The company issued 7,333,334 Quebec flow-through units at an issue price of CAD 0.075 per unit for gross proceeds of CAD 550,000.05 and 6,428,530 National flow-through units at an issue price of CAD 0.07 per unit for gross proceeds of CAD 449,997.1 in the transaction. The company has paid cash finders' fees totalling CAD 69,999.79 and issued 483,333 compensation options. Each Compensation Warrant is exercisable to acquire one common share of the Corporation at a price of CAD 0.10 per share over a period of 24 months following the closing of the Offering. All securities issued pursuant to the first tranche of this Offering are subject to a restricted hold period of four months and a day, ending on July 11, 2023, under applicable Canadian securities legislation.