BULLETIN V2023-0376
VELOCITY MINERALS LTD. ("VLC")
BULLETIN TYPE: Private Placement - Non-Brokered
BULLETIN DATE: December 21, 2023
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on December 8, 2023:
Number of Shares: 14,886,525 common share units ("Units"), each Unit consisting of one common share in the capital of the Company ("Share") and one-half of one Share purchase warrant ("Warrant").
Purchase Price: $0.10 per Unit.
Warrants: 7,443,262 Warrants to purchase 7,443,262 Shares.
Warrant Price: $0.18 exercisable for a period of 2 years from the date of issuance.
Number of Placees: 17 Placees
Insider / Pro Group Participation:
Insider= Y /
Name Pro Group= P Number of Units
Aggregate Existing Insider Involvement:
[1 Existing Insider] Y 2,256,597
Aggregate Pro Group Involvement:
[4 Pro Group members] P 3,269,928
Aggregate Cash Amount Aggregate #
of Shares Aggregate #
of Finder Warrants
Finder's Fee: $87,920 N/A 879,200
Finder Warrants are exercisable at $0.10 per Finder Share for a period of 12 months from the date of issuance.
The Company issued a news release on December 21, 2023, confirming the closing of the Private Placement. Note that in certain circumstances the Exchange may later extend the expiry date of the Warrants, if they are less than the maximum permitted term.
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