Green Shift Commodities (GCOM-V) Non-Brokered Free-Trading Private Placement Financing
Dec 7, '22 - NR
Green Shift Commodities is pleased to announce its intention to complete a non-brokered private placement on a best efforts basis of units of the Company (the “Units”) at a price of $0.15 per Unit (the “Issue Price”) for minimum gross proceeds to the Company of $1,500,000 and maximum gross proceeds equal to the maximum amount that may be issued pursuant to the Listed Issuer Financing Exemption, as defined below (the “Offering”). The Offering is being completed pursuant to the Listed Issuer Financing Exemption and accordingly the securities issued in the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws.
Each Unit will consist of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.25 for 24 months following the date of issuance.
Trumbull Fisher, CEO and Director of GCOM commented, “We have been overwhelmed by the positive recognition we have received from current and prospective shareholders on our recent district-scale lithium project acquisition in Argentina, which we expect to close in January. Today’s announcement will allow us to advance exploration on our uranium and battery commodity assets, during a time of significant demand in both sectors. Importantly, with the listed issuer financing exemption, we are very pleased to offer a wider range of investors the ability to participate in our growth early on through free trading securities.”
Certain eligible finders who direct investors to participate in the Offering shall be paid a cash fee of 7% of the value of the Units sold to such investors and shall be issued such number of finders’ warrants (“Finder Warrants”) equal to 7% of the Units sold to such investors. Each Finder Warrant will entitle the holder to purchase one Common Share at an exercise price of $0.15 for 24 months following the date of issuance.
The Company intends to use the net proceeds of the Offering to advance its battery commodity and uranium portfolio projects, working capital and general corporate purposes.
The closing of the Offering is anticipated to occur on or about December 22, 2022 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”), the Units will be offered for sale to purchasers resident in Canada and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the “Listed Issuer Financing Exemption”).
There is an offering document related to the Offering that can be accessed under the Company’s profile at www.sedar.com and on the Company’s website at www.greenshiftcommodities.com. Prospective investors should read this offering document before making an investment decision.
About Green Shift Commodities Ltd.
Green Shift Commodities Ltd. is focused on the exploration and development of commodities needed to help decarbonize and meet net-zero goals.
The Company is developing the Berlin Deposit in Colombia. Apart from uranium, for clean nuclear energy, the Berlin Deposit contains battery commodities including nickel, phosphate, and vanadium. Phosphate is a key component of lithium-ion ferro-phosphate (“LFP”) batteries that are being used by a growing list of electric vehicle manufacturers. Nickel is a component of various lithium-ion batteries, while vanadium is the element used in vanadium redox flow batteries. Neodymium, one of the rare earth elements contained within the Berlin Deposit, is a key component of powerful magnets that are used to increase the efficiency of electric motors and in generators in wind turbines.
For further information, please contact:
Trumbull Fisher, CEO, Green Shift Commodities Ltd.
E: tfisher@greenshiftcommodities.com
Tel: (416) 917-5847 |
