Horizon Copper Corp. announced a private placement to issue 8,378,500 subscription receipts at a price of CAD 0.80 per subscription receipt for gross proceeds of CAD 6,702,800 o April 20, 2023. Each Subscription Receipt consists of one common share of the Company and one half of one non transferable share purchase warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of CAD 1.10 for a period of four years following the automatic conversion of the Subscription Receipts. The transaction included participation from returning investor Sandstorm Gold Ltd. Completion of RTO Part B is subject to a number of conditions, including but not limited to, TSX Venture Exchange final acceptance. The Private Placement was conducted on a non-brokered private placement basis and cash finders' fees will be paid in association with the Private Placement in the aggregate of CAD 217,066. The Finders' Fees will only be paid by the Company upon the automatic conversion of the Subscription Receipts. All securities issued pursuant to the Private Placement are subject to a four month and one day hold period in accordance with applicable Canadian securities laws, expiring on August 20, 2023.
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 98 placees, existing insider involvement of one insider for 1,468,750 and pro group involvement of six pro groups for 175,650.