Zacapa Resources Ltd. (TSXV: ZACA | OTCQB: ZACAF | DE: BH0) has announced a non-brokered private placement for the sale of up to 11,111,111 units at a price of C$0.45 per unit for gross proceeds of up to C$5,000,000. Each Unit will be comprised of one common share and one half of one common share purchase warrant. Each Warrant will entitle the holder to purchase one common share at a price of C$0.68 for a period of 24 months following the closing date of the offering.
Crescat Capital LLC, a strategic investor, has agreed to participate in the offering to acquire 9.9% of the issued and outstanding common shares of Zacapa. Following closing of the Crescat Investment, the company will have an option to participate in future financings to maintain its interest if Crescat holds greater than five percent of the issued and outstanding common shares of Zacapa.
The net proceeds from the sale of Units will be used for exploration and drilling of Zacapa’s projects, including the South Bullfrog gold project in Nevada, and for working capital and general corporate purposes. Finder’s fees will be payable in accordance with the policies of the TSX Venture Exchange.
The closing of the offering is expected to occur on or about 15 June 2022.
For further information please visit: https://zacaparesources.com/
