Blue Lagoon Resources Inc. issued a statement announcing a non-brokered flow-through and non-flow-through financing, which will be led by Crescat Capital LLC.
As part of this new deal, Crescat will make a strategic investment of US$1.5m, taking up over 27% of the proposed financing volume which stands at US$5.5m. Crescat has also secured participatory rights in advance to guarantee a spot in future financing schemes.
Founder and CIO of Crescat, Kevin Smith, said: “Crescat is taking an activist approach to investing in the precious metals industry today. Our goal at this stage of the cycle is to identify and invest in a portfolio of potentially big, high-grade discoveries in the hands of undervalued juniors where we can help unlock value. We are excited about the potential of Blue Lagoon’s Dome Mountain property.”
The price for the Flow-Through units is set at $0.7425. The structure of each FT Unit includes one flow-through common share and one-half of a share purchase warrant.
The price for the Non-Flow-Through units is set at $0.55. The structure of each NFT Unit is similar to the former, with one common share and one-half share purchase warrant. A full purchase warrant allows holders to buy more common share units priced at $0.75 over 24 months.
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