Baroyeca raises $3.14-million under unit financing
2022-02-11 09:21 ET – News Release
Mr. Richard Wilson reports
BAROYECA GOLD & SILVER INC. ANNOUNCES PRIVATE PLACEMENT OVER-SUBSCRIBED
Baroyeca Gold & Silver Inc., further to its news release issued Jan. 20, 2022, has oversubscribed its private placement of its securities at 35 cents per unit, each unit consisting of one common share and one-half of a non-transferable share purchase warrant, with each whole such warrant entitling the holder to acquire one additional common share of the company at a price of 50 cents per share for a period of one year. The company having received subscriptions for in the order of 8,973,994 units of its securities raising total proceeds in the order of $3,140,898 for the company.
The company will pay fees in cash and/or securities to certain persons in connection with this financing.
The proceeds from the private placement will be used for corporate administration, property payments and operating expenses for its Colombian properties, and general working capital.
Closing of the private placement is subject to acceptance for filing by the TSX Venture Exchange.
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