Minerals company Earthwise declares planned private investment round
Earthwise Minerals Corp. Announces Private Placement Financing to Fund Exploration and Operations
Earthwise Minerals Corp., a Canadian exploration company, has announced a non-brokered private placement financing aiming to raise CAD 200,000. The financing, called the "Offering," will be used to fund exploration at its Iron Range Gold Property in British Columbia and support company operations.
The Offering consists of two types of units:
- Flow-Through (FT) Units: A total of 7,500,000 FT Units will be offered at a price of CAD 0.02 per unit, raising CAD 150,000. Each FT Unit will consist of one common share and half of one common share purchase warrant. The FT Shares are intended to qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada), and the proceeds from the FT Offering will be used to advance the Company's exploration activities at the Iron Range Gold Property.
- Non-Flow-Through (NFT) Units: A total of 2,500,000 NFT Units will be offered at a price of CAD 0.02 per unit, raising CAD 50,000. Each NFT Unit consists of one common share and one full common share purchase warrant. Each NFT Warrant entitles the holder to purchase an additional common share at an exercise price of CAD 0.05 for 24 months. The proceeds from the NFT Offering will be used for general working capital.
Investors are cautioned not to place undue reliance on forward-looking statements, as they are subject to known and unknown risks and uncertainties. Additional information regarding risks and uncertainties can be found in the "Risk Factors" section of Earthwise Minerals Corp.'s continuous disclosure documents.
For more information about the Offering, please contact Mark Luchinski, the Chief Executive Officer and Director of Earthwise Minerals Corp., at (604) 506-6201 or via email at [email protected].
[1] FT Unit consists of one common share and half of one common share purchase warrant. [2] The Offering is non-brokered, indicating no intermediaries are involved in the sale. [3] Each NFT Warrant entitles the holder to purchase one common share at an exercise price of $0.05 for 24 months. [4] The gross proceeds from the Offering could reach up to $200,000.
Investing in Earthwise Minerals Corp.'s Offering will help in both exploration and operations of the business, as the funds raised will be divided between advancing exploration activities at the Iron Range Gold Property and general working capital. The Offering, a non-brokered private placement, consists of two types of units: Flow-Through (FT) Units and Non-Flow-Through (NFT) Units, with potential returns from FT Shares qualifying as tax-deductible for Canadian income tax purposes.
