The Prospector News

Exploits Successfully Closes Non-Brokered Private Placement and Issues Stock Options

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Exploits Successfully Closes Non-Brokered Private Placement and Issues Stock Options

 

 

 

 

 

Exploits Discovery Corp. (CSE: NFLD) (OTCQX: NFLDF) (FSE: 634) is pleased to announce completion of a non-brokered private placement of 12,692,500 flow-through shares at a price of $0.08 per flow-through share for gross proceeds of $1,015,400. In connection with the Offering, the Company paid to finders cash commissions totaling $25,344. All flow-through shares are subject to a four month hold period expiring January 28, 2025.

 

An insider of the Company participated in the Offering for $8,000. The issuance of flow-through shares to insiders is considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization.

 

The gross proceeds received by the Company from the Offering will be used to incur eligible “Canadian exploration expenses” that are “flow-through mining expenditures” (as such term is defined in the Income Tax Act (Canada)) related to the Company’s mining projects.

 

The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. “United States” and “U.S. person” have the respective meanings assigned in Regulation S under the U.S Securities Act.

 

The Company also announces that, in accordance with the Company’s stock option plan, it has granted to certain of its directors, officers, employees and consultants incentive stock options to purchase up to an aggregate of 2,150,000 common shares exercisable on or before September 30, 2029 at a price of $0.08 per share.

 

About Exploits Discovery Corp.

 

Exploits is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland and Labrador, Canada. Exploits is utilizing its experienced, talented local team and geologic understanding with the vision to become one of the most successful explorers in Canada.

 

Posted September 30, 2024

Share this news article

MORE or "UNCATEGORIZED"


SAGA Metals Reports Assay Intercepts Including 52.05% Fe₂O₃, 7.21% TiO₂, 0.375% V₂O₅ from 2026 Drilling at Trapper South, Radar Critical Minerals Project in Labrador

SAGA Metals Corp. (TSX-V: SAGA) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focu... READ MORE

March 5, 2026

Vior Gold Corporation Announces District Scale Projects Acquisition

VIOR GOLD CORPORATION INC. (TSX-V: VIO) (OTCQB: VIORF) (FRA: VL5) is pleased to announce that, on Ma... READ MORE

March 5, 2026

USA Rare Earth to Acquire Texas Mineral Resources Corporation

USA Rare Earth, Inc. (Nasdaq: USAR) and Texas Mineral Resources Corp. (OTCQB: TMRC) today an... READ MORE

March 5, 2026

Endeavour Reports Strong FY-2025 Results

Endeavour Mining plc (LSE:EDV) (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its operating and fin... READ MORE

March 5, 2026

Bunker Hill Announces Closing of C$33,752,300 Brokered Life Offering, Concurrent Non-Brokered Private Placement and Warrant Exercise

Bunker Hill Mining Corp. (TSX-V: BNKR) (OTCQB: BHLL), is pleased to announce that it has closed its ... READ MORE

March 5, 2026

Copyright 2026 The Prospector News