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SLAM Exploration Ltd. Announces $1 Million Private Placement
SLAM Exploration Ltd. has announced a non-brokered private placement offering of up to 2,500,000 units at $0.40 per unit, aiming to raise $1 million. Each unit includes four flow-through shares, one non-flow-through share, and 2.5 warrants. A whole warrant allows the acquisition of an additional share at $0.12, valid for 24 months post-issuance.
The company may accelerate the warrants' expiry if their trading price reaches $0.20 for 30 consecutive days. Proceeds from flow-through shares will fund Canadian Exploration Expenses in New Brunswick, eligible for a 30% Tax Credit. Funds from non-flow-through shares will support corporate purposes.
The placement is pending approval from the TSX Venture Exchange. Insider participation could occur under Multilateral Instrument 61-101, with exemptions expected.
R. E.
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