Canada Gold Corporation. (TSXV: CI) - Disappointing results from Colombia; Key Management Members Resign
Provider: Fundamental Research Corp
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STEM 7 Capital Inc Updates On Proposed Private Placement
STEM 7 Capital Inc announced that the Company is pursuing a non-brokered private placement bridge financing (the Private Placement) for aggregate gross proceeds of up to $ 800,000. The Private Placement shall consist of the offering of up to 16,000,000 units (Units) at a price of $0.05 per Unit, with each Unit consisting of one common share in the capital of the Company and one common share purchase warrant exercisable at a price of $0.10 per warrant for a period of two years from the date of issuance. The net proceeds from the Private Placement will be used for general working capital purposes and to complete the proposed COB transaction. Specifically, the Company anticipates that approximately $380,000 of the net proceeds will be used to pay salaries (both accrued and ongoing) of management of the Company, $160,000 will be used to re-pay certain related party loans, and the balance of the net proceeds will be used or general working capital and expenses associated with the COB process.
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