Quetzal Copper Announces Brokered Private Placement Offering to Raise $3.0 Million
Quetzal Copper Corp. (TSXV: QCO) (“Quetzal” or the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Desjardins Capital Markets (the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” private placement basis, 20,000,000 units of the Company (the “Units”) at a price of $0.15 per Unit (the “Offering Price”) for gross proceeds to Quetzal of $3,000,000 (the “Offering”).
Each Unit shall consist of one common share in the capital of the Company (a “Common Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price per share of $0.20 for a period of 24 months following the closing of the Offering.
The net proceeds from the Offering are expected to be used for working capital and general corporate purposes.
The Offering is scheduled to close on or about February 16, 2022 (the “Closing Date”) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The Units will be offered by way of private placement exemptions in all provinces of Canada. The Units may also be offered in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.
This press release