Cruz Capital Corp. (“Cruz” or the “Company”) has closed a non-brokered private placement (“the Offering”) of 6,732,500 units at for gross proceeds of $2,093,000, as previously announced on August 10, 2016. The Company issued 732,500 flow-through (“FT”) units at $0.40 per unit raising a total of $293,000 FT funds and the Company issued six million non flow-through (“NFT”) units at $0.30 raising a total of $1,800,000 hard dollar funds. Each FT unit consists of one FT common share and one transferable share purchase warrant exercisable at $0.50 until August 24, 2019. Each NFT unit consists of one common share and one transferable share purchase warrant exercisable at $0.45 until August 24, 2019
There were finders’ fee, in aggregate, of $93,852.02 paid and 267,253 NFT finders’ warrants and 34,200 FR finders’ warrant issued in respect to the Offering. All securities issued in this offering are subject to a four-month hold period expiring December 25, 2016.
Cruz Capital Corp.
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