Denarius Metals Corp. (Cboe CA: DMET | OTCQX: DNRSF) has closed the first tranche of its previously announced best efforts private placement for gross proceeds of C$10,025,000 from the sale of 10,025 convertible debenture units of the company at a price of C$1,000 per unit. The First Tranche was led by Red Cloud Securities Inc. as lead agent and bookrunner, on behalf of a syndicate of agents, including Clarus Securities Inc. and Haywood Securities Inc., and forms part of a larger private placement of up to 20,000 units for total gross proceeds of C$20,000,000. The company expects to complete the offering in one or more additional tranches on or before 13 June 2024.
In connection with the offering, insiders of the company, including Mr. Serafino Iacono and Mr. Federico Restrepo-Solano, acquired a total of C$5,150,000 of units. In conjunction with the offering, the company paid a total of C$158,175 of fees in cash to the Agents. Mr. Iacono settled directly with the company and the agents did not receive a fee on Mr. Iacono’s subscription.
The company intends to use the net proceeds from the offering for its Aguablanca Project in Spain and general corporate purposes. A portion of the proceeds has been set aside in escrow to fund the monthly interest payments on the debentures during the first 12 months after the closing date of the offering.
To read more about this, please visit www.denariusmetals.com
To read more news like this, please visit www.theassay.com/news
