Mr. Gary Cope reports
BARSELE MINERALS ANNOUNCES $1 MILLION PRIVATE PLACEMENT
Minerals Corp. intends to undertake a non-brokered private placement financing to raise gross proceeds of up to approximately $1-million from the sale of up to 3,333,334 units at a price of 30 cents per unit, with each unit consisting of one common share of the company and one-half of one warrant. Each warrant will entitle the holder thereof to acquire one share from the company at a price of 45 cents per share for a period of 24 months from closing of the offering.
The company intends to use the net proceeds from the offering for working capital requirements and other general corporate purposes.
The offering is anticipated to close on or about Aug. 23, 2022. The closing of the offering is subject to certain conditions, including the approval of the TSX Venture Exchange and certain other conditions customary for a private placement of this nature. All securities issued pursuant to the offering will be subject to a statutory four-month-and-one-day hold period from the closing date.
The company may pay a finder's fee in respect of those purchasers under the offering introduced to the company by certain persons. Each finder will receive a cash payment equal to 6 per cent of the gross proceeds received by the company from purchasers under the offering who were introduced to the company by such finder.
About Barsele Minerals Corp.
Barsele is a Canadian-based junior exploration company managed by the Belcarra Group, comprising highly qualified mining professionals. Barsele's main property is the Barsele gold project in Vasterbottens Lan, Sweden, a joint venture with Agnico Eagle. An amended National Instrument 43-101 technical report on the Barsele project with an effective date of Feb. 21, 2019, was filed on SEDAR on Dec. 16, 2020.
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