Hawkmoon Resources Corp (CSE:HM) announced that it has completed the second tranche of its previously announced non-brokered private placement for gross proceeds of $1,092,729.
Combined with the first tranche, the company has raised $1,892,729 through the private placement. Under the second tranche, Hawkmoon issued 745,332 shares at $0.75 per share.
The Vancouver-based company said that it will be using the net proceeds from the second tranche towards its drilling programs and for general working capital.
READ: Hawkmoon Resources completes first tranche of previously announced non-brokered private placement raising aggregate gross proceeds of $800,000
The company said it also issued 2,070,333 non-flow-through units (NFT Units) at a purchase price of $0.09 per NFT Unit, with each NFT Unit consisting of one share and one common share purchase warrant, with each warrant exercisable into one share at an exercise price of $0.12 for a period of two years following the issuance date.
Some 425,000 flow-through units (FT Units) of the company were issued at a purchase price of $0.10 per Half Warrant FT Unit. Each Half Warrant FT Unit consists of one share, which qualifies as a 'flow-through share' as defined in the Income Tax Act, and one-half of one Warrant.
The company also issued 8,080,000 Whole Warrant FT Units at a purchase price of $0.10 each, with each Whole Warrant FT Unit consisting of one FT share and one warrant.
Hawkmoon paid finder’s fees of $91,742 and issued 573,549 finder’s warrants in connection with the second tranche. Each finder’s warrant is exercisable at $0.10 for a period of 24 months from the date of issuance.
The company said all securities issued in connection with the second tranche are subject to a statutory hold period expiring four months and one day from issuance.
Hawkmoon is focused entirely on its three Quebec gold projects. Two of these projects are located in one of the world’s largest gold endowed areas, the Abitibi Greenstone Belt. Both these gold projects are accessed by government-maintained roads and are in close proximity to each other east of the town of Lebel-sur-Quévillon. The third project is situated in the Belleterre Gold Camp southwest of Val-d’Or.
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