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Golden Sky Closes Financing

The Company has closed on 362,500 non-flow-through Units for gross proceeds of $145,000 (the “Units”), each Unit priced at $0.40 and consisting of 1 common share of the Company and 1 common share purchase warrant (the “Unit Warrants”), each Unit Warrant being exercisable for an additional common share of the Company at $0.75 for 24 months from closing, subject to the right of the Company to accelerate the exercise period should, after the expiration of the 4 month hold, shares of the Company trade close at or above $1.50 for 10 consecutive trading days. Proceeds of this portion of the financing will be used for general corporate purposes, that may include corporate development and property acquisition. Read More

from Financial Post https://ift.tt/3hq9OAR
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