The Prospector News

Manitou Gold Announces Closing of $1,638,000 Private Placement, Strategic Investments by Alamos Gold Inc. and O3 Mining

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Manitou Gold Announces Closing of $1,638,000 Private Placement, Strategic Investments by Alamos Gold Inc. and O3 Mining

 

 

 

 

 

 

Manitou Gold Inc. (TSXV: MTU) is pleased to announce that it has closed a non-brokered private placement pursuant to which it has issued an aggregate of 9,000,000 common shares at a price of $0.06 per Share and 15,685,714 “flow-through” common shares at a price of $0.07 per FT Share, to raise aggregate gross proceeds of $1,638,000.

 

The Company also issued an aggregate of 98,000 finder’s shares and 941,142 broker warrants to certain eligible registrants assisting in the Offering. Each broker warrant entitles the holder to acquire one common share of the Company at a purchase price of $0.07 per share for a period of two years from the closing of the Offering.

 

An amount equal to the gross proceeds from the sale of the FT Shares will be used for expenditures which qualify as Canadian exploration expenses and “flow-through mining expenditures” (within the meaning of the Income Tax Act (Canada)). The Company will renounce such CEE with an effective date of no later than December 31, 2021. The balance of the net proceeds raised pursuant to the Offering will be used for working capital and exploration expenditures.

 

Pursuant to the previously announced investment agreement entered into between Manitou and Alamos Gold Inc. (TSX: AGI, NYSE: AGI), Alamos purchased an aggregate of 7,000,000 Shares in the Offering to maintain its pro rata interest in the Company. In addition, O3 Mining Inc. (TSX-V: OIII) exercised its right to maintain its pro-rata ownership in the Company by purchasing an aggregate of 2,000,000 Shares in the Offering.

 

The Offering remains subject to the final approval of the TSX Venture Exchange. All securities issued and issuable in connection with the Offering are subject to a statutory hold period expiring on April 16, 2022.

 

Posted December 16, 2021

Share this news article

MORE or "UNCATEGORIZED"


URANIUM ENERGY CORP ANNOUNCES THE CLOSING OF $203 MILLION PUBLIC OFFERING

Proceeds to be Used to Accelerate the Development of the United ... READ MORE

October 6, 2025

Barrick Announces Sale of Interest in Tongon for Up To $305 Million

Barrick Mining Corporation (NYSE:B) (TSX:ABX) announced that it h... READ MORE

October 6, 2025

Aquitaine Metals Drills Broad High-Grade Gold Mineralization: 16.45 g/t gold over 20.00 metres at Limousin Project

Aquitaine Metals Corp. is pleased to announce the first drill res... READ MORE

October 6, 2025

B2Gold Achieves Commercial Production at the Goose Mine

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) is pleased to announce th... READ MORE

October 6, 2025

Osisko Development Provides Infill Drilling Update on Its 13,000-Meter Lowhee Program at Cariboo Gold Project; Intercepts Include 45.24 G/T Gold Over 3.0 Meters, Including 233.92 G/T Gold Over 0.5 Meters

HIGHLIGHTS 2,279 m of infill drilling completed on 10-m dr... READ MORE

October 6, 2025

Copyright 2025 The Prospector News