| Critical Elements Announces a Closing of $600,300 | |
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MONTREAL, QUEBEC--(Marketwired - Jun 16, 2015) - Critical Elements Corporation (TSX VENTURE:CRE) (CRECF) (F12.F) is pleased to announce that it has closed a non-brokered private placement, for an amount of $600,300. The Company has issued 2,610,000 units of common shares at a price of $0.23 per share for gross proceeds of $600,300. Each unit consists of one common share priced at $0.23 and one half of one purchase warrant. Each whole purchase warrant entitles the holder thereof to purchase one common share of the Corporation for a period of 24 months at a price of $0.35 per share. The Company paid Jones, Gable & Company Limited and Mackie Research Capital intermediary fees of $28,152, along with 122,400 compensation options entitling their holders to purchase 122,400 common shares of the Company at a price of $0.35 per share for a 24-month period following the closing of the private placement. All the securities issued under the private placement are subject to a mandatory hold period of four months and one day following the closing of the private placement. At any time after this four months and one day, if the trading price of the common shares on the TSX Venture Exchange is equal to or exceeds $0.75 for 14 consecutive trading days, as evidenced by the price at the close of market, the Company shall be entitled to notify the holders of Warrants and Compensation options of its intention to force the exercise of the Warrants and Compensation options. Upon receipt of such notice, the holders of Warrants and Compensation options shall have 30 days to exercise the Warrants or Compensation options, failing which the Warrants and Compensation options will automatically expire. The proceeds of this private placement will be used for working capital. The private placement is subject to regulatory approval. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Critical Elements Corporation
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EXPLORATION STAGE |
CODE : CRE.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Critical Elements is a gold exploration company based in Canada. Critical Elements holds various exploration projects in Canada. Its main exploration properties are MATCHI-MANITOU, ROSE (LAC PIVERT), CROINOR, GATINEAU, LAC SAVIGNY NE and MELASSE in Canada. Critical Elements is listed in Canada. Its market capitalisation is CA$ 131.7 millions as of today (US$ 96.4 millions, € 90.1 millions). Its stock quote reached its lowest recent point on August 14, 2009 at CA$ 0.07, and its highest recent level on February 10, 2023 at CA$ 3.03. Critical Elements has 148 030 000 shares outstanding. |