Secova Metals (SEK-V) Upsized in PP and Close of the First Tranche of 20 Million Units
Oct 30, '19 - NR
Secova Metals has increased the size of its private placement announced on Sept. 28, 2019, by 12.5 million units to 32.5 million units. The Company also announces that it has closed the first tranche of the Financing raising gross proceeds to the company of $1,000,000 by the issuance of 20 million units at a purchase price of $0.05 per unit (the "First Tranche").
Each unit consists of one common share of the Company and one common share purchase warrant (the "Units"). Each warrant entitles the holder to purchase one common share of the Company at a purchase price of $0.05 per share for a period of nine (9) months from the date of the closing of the Financing.
In connection with the closing of the First Tranche, the Company will pay a cash finder's fee of $2,000 and issue 40,000 finder's warrants (the "Finder's Warrants"). The Finder's Warrants will be exercisable into common shares for a period of nine (9) months at an exercise price of $0.05 per common share. The net proceeds of the offering will be used for exploration and development of the company's gold projects in Quebec and for general corporate purposes. The offering is subject to the acceptance of the TSX Venture Exchange and all securities issued in the Financing will be subject to a four-month plus one day hold period.
About Secova Metals Corp.
Secova Metals Corp. is a Canadian exploration company focused on building a strong asset base through exploration of undervalued projects in Canada. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. The Company's main focus is its 100% ownership of the Eagle River project which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec. Secova will use its expertise in early stage exploration to create shareholder value by attempting to prove out the potential resource in these assets.
For more information on Secova Metals Corp. please contact info@secovametals.com, Tel: +1 604-505-7555 or visit the website at www.secovametals.com for past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.
On Behalf of the Board of Directors,
SECOVA METALS CORP.
“Brad Kitchen”
Chairman, CEO and Director
Tel: +1 604-506-7555
info@secovametals.com |
