Mosaic Minerals Corporation (CSE: MOC) (“Mosaic” or the “Corporation”) is pleased to announce that it has closed its private placement (the “Offering“), pursuant to which it issued 750,000 flow-through common shares (the “FT Shares”) and 1,050,000 common shares units (the “Units”) of the Corporation at a price of $0.16 per FT Share and $0.12 per Unit for aggregate gross proceeds of $246,000.
Each Unit consist of one common share, and one-half of one common share purchase warrant (each whole, a “Warrant”) with each Warrant entitling the holder to purchase one additional common share in the capital of the Corporation for a period of 12 months from the date of closing of the Private Placement, at a purchase price of $0.25 per common share.
In connection with the Offering, the Corporation has paid a finder’s fee of 7% in cash and issued 52,500 finder’s warrants (“Finder’s Warrants”). Each Finder’s Warrant is exercisable to acquire one additional common share at a price of $0.25 per Warrant for a period of twelve months from issuance.
All securities issued in respect of the Offering will be subject to a hold period of four (4) months and a day ending April 22, 2022. The Offering is subject to final approval of the Canadian Securities Exchange (CSE).
The company would like to thank its shareholders for their confidence in the past year and wish them a happy new year.
About Mosaic Minerals Corporation
Mosaic Minerals Corp. is a Canadian mineral exploration company listed on the Canadian Securities Exchange (CSE: MOC) now focusing on the exploration for future strategic Copper, Nickel and Zinc deposits in priority on the Quebec Province territory which have a long and successful history of base metal production mainly in the Rouyn-Noranda, Matagami, Val-d’Or and Chibougamau mining camps.
On Behalf of the Board
M. Jonathan Hamel
President & CEO