The Mint Corp. completed the sale of 5 million units at 10 Canadian cents per unit, for gross proceeds of C$500,000.
This is the first close of a nonbrokered private placement of up to 10 million units.
Each unit consists of 1 common share and 0.5 common share purchase warrant. Each whole warrant is exercisable for 1 common share through March 13, 2021, for an exercise price of 20 Canadian cents.
The warrants and common shares issued as part of the units are subject to a four-month hold period which expires July 14.