on Arras Minerals Corp. (isin : US8274582092)
Arras Minerals Announces Additional Increase of Non-Brokered Financing to C$5.2 Million
VANCOUVER, BC / ACCESSWIRE / May 29, 2024 / Arras Minerals Corp. (TSX-V:ARK) announced an increase in its non-brokered private placement financing to C$5.2 million due to strong demand from existing shareholders. Initially set at C$2 million, the financing has been upsized twice within the past week.
Each Unit in the Offering, priced at C$0.26, consists of one common share and one-half of a non-transferable common share purchase warrant. Each whole warrant entitles the holder to purchase an additional share at C$0.40 for three years.
If the common shares trade at or above C$0.60 for fifteen consecutive days post-closing, Arras may accelerate the expiry date of the warrants. The Offering is scheduled to close on June 4, 2024, pending TSXV approval.
The securities issued will be subject to a four-month hold period in Canada and U.S. resale restrictions. They will not be registered under the U.S. Securities Act of 1933 or any state securities laws.
R. E.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Arras Minerals Corp. news