The Prospector News

ValOre Closes Oversubscribed $2.9 Million Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

ValOre Closes Oversubscribed $2.9 Million Private Placement

 

 

 

 

 

ValOre Metals Corporation  (TSX-V: VO) (OTC: KVLQF) (Frankfurt: KEQ)  announced the closing of the non-brokered private placement financing disclosed on August 19, 2022. ValOre issued 7,440,000 units at a price of $0.40 per Unit for gross proceeds of $2,976,000. Each Unit will consist of one common share in the capital of ValOre and one-half of one non-transferable common share purchase warrant. Each Warrant will be exercisable to acquire one Share at a price of CDN$0.60 per Share for a period of 24 months, expiring August 30, 2024.

 

ValOre intends to use the net proceeds raised from the Offering for additional exploration work on ValOre’s Angilak Property uranium project in Nunavut Territory, Canada and the Company’s Pedra Branca palladium platinum project in Brazil, as well as for general working capital.

 

All securities issued under this placement are subject to TSXV and securities regulatory legends expiring on December 31, 2022. Finders’ fees of $3,840 and 9,600 Warrants were issued to various finders under the Placement. The finders’ warrants have the same terms and conditions as the Warrants issued to the subscribers under the Placement.

 

Certain insiders of ValOre acquired Units in the Offering. Any participation by insiders in the Offering constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). However, the Company expects such insider participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would not exceed 25% of the Company’s market capitalization. There are no material facts or material changes regarding the Company that have not been generally disclosed.

 

About ValOre

 

ValOre Metals Corp. is a Canadian company with a portfolio of high‐quality exploration projects. ValOre’s team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.

 

Posted August 31, 2022

Share this news article

MORE or "UNCATEGORIZED"


Legacy Gold Intersects Broad Zones of Gold Mineralization at Baner Property, Idaho: Hole 004 - 0.59 g/t Gold Over 71.6 m and 1.15 g/t Gold Over 18.3 m

Legacy Gold Mines Ltd. (TSX-V: LEGY) is pleased to report assay results from six (6) additional Reve... READ MORE

November 17, 2025

Galiano Gold Advances Towards a Maiden Underground Resource at Abore with Additional High-Grade Results Encountered Including 4.7 g/t Au over 28m and 3.5 g/t Au over 17m

Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) is pleased to provide an update on the 2025 Abor... READ MORE

November 17, 2025

First Phosphate Closes Oversubscribed Private Placement to Existing and Follow-on Investors

First Phosphate Corp. (CSE: PHOS) (OTCQX: FRSPF) (FSE: KD0) is pleased to announce that, on November... READ MORE

November 17, 2025

Revival Gold Intersects 1.4 g/T Oxide Gold Over 44.2 Meters in Shallow Drilling and Extends Mineralization at Mercur

Revival Gold Inc. (TSX-V: RVG) (OTCQX: RVLGF) is pleased to provide further results from ongoing dr... READ MORE

November 17, 2025

Western Exploration Drilling Confirms New Precious Metals Bearing Epithermal System at Aura Project with 3.0 Meters of 7.1 G/t Gold at Tomasina Fault Zone

Western Exploration Inc. (TSX-V: WEX) (OTCQX: WEXPF) is pleased to announce results of the first fiv... READ MORE

November 17, 2025

Copyright 2025 The Prospector News