Spey Resources (SPEY-Cse) Closing of PP
Sept 17, '22 - NR
Further to the news release dated Sept. 7, 2022, Spey Resources Corp. has closed its non-brokered private placement, having issued 22,141,496 units at a price of 17.5 cents per unit for gross proceeds of $3,874,761.80.
Each unit is composed of one common share of the company and one-half of one common share purchase warrant, with each warrant entitling the holder to acquire one share at a price of 35 cents until Sept. 16, 2024, provided that, if the volume-weighted average trading price of the shares on the Canadian Securities Exchange is at a price greater than 70 cents for 10 consecutive trading days, then the expiry date of the warrants shall automatically accelerate to the date that is 30 days after the date that notice of such acceleration is provided to the warrantholders.
In connection with the offering, the company also paid finders' fees in the aggregate of $145,580.75 in cash and 760,490 non-transferable broker warrants. Each broker warrant is exercisable into one share at an exercise price of 35 cents until Sept. 16, 2024, provided that, if the volume-weighted average trading price of the shares on the CSE is at a price greater than 70 cents for 10 consecutive trading days, then the expiry date of the warrants shall automatically accelerate to the date that is 30 days after the date that notice of such acceleration is provided to the broker warrantholders.
The company intends to use the net proceeds raised from the offering for financing the drilling of its projects, property payments and general working capital.
All securities issued in the offering are subject to a statutory four-month hold period in accordance with the policies of the CSE and applicable securities laws.
About Spey Resources Corp.
Spey is a Canadian mineral exploration company which holds two option agreements to acquire a 100-per-cent interest in the Candela 2 and Pocitos 2 lithium brine projects, and a 20-per-cent interest in the Pocitos 1 lithium project, all of which are located in the Salta province, Argentina. Spey also holds an option to acquire a 100-per-cent undivided interest in the Silver basin project located in the Revelstoke mining division of British Columbia, as well as an option to acquire a 100-per-cent interest in the Kaslo silver project, west of Kaslo, B.C.
For more information, please contact:
Nader Vatanchi CEO, Director
nader@speyresources.ca
778-881-4631 |
