Infinity Stone Ventures Corp (CSE:GEMS, OTC:GEMSF) has announced a non-brokered private placement to raise gross proceeds of up to C$900,000, by issuing 18 million company units at a price of $0.05 each.
Infinity Stone said it intends to use the proceeds for payment of account payables, exploration expenditures and general working capital.
Each unit of the private placement will be comprised of one Class A Subordinate Voting company share plus one-half of one Class A Subordinate Voting share purchase warrant, with each warrant entitling the holder to acquire one additional Infinity Stone share at a price of $0.10 per warrant share for a period of 24 months from issuance.
Infinity Stone noted the offering may close in tranches, with the first tranche expected to close on or around May 25, 2023.
As well, the company said it may pay certain finders a cash commission and/or issue such finders non-transferable share purchase warrants in connection with the offering.
Infinity Stone’s mission is to be a diversified, single-source supplier for the critical energy metals being used in the clean energy revolution alongside its established Software-as-a-Service (Saas) solution portfolio.
Contact Sean at sean@proactiveinvestors.com