Stuhini Exploration Ltd (TSX-V:STU) has said that due to demand from potential investors its non-brokered private placement announced on August 2, 2022, has been increased by $420,000 for total aggregate gross proceeds to the company of up to $1.92 million.
The company said the private placement will consist of a combination of: (i) flow-through (FT) units of the company at a price of $0.45 per FT unit; and (i) non-flow-through (NFT) units of the company at a price of $0.40 per NFT unit.
The terms of the private placement, the FT units and NFT units, the proposed use of proceeds, possible finders' fees and some anticipated insider placees are otherwise as previously disclosed on August 2, 2022.
The private placement will close in multiple tranches, with the first tranche having closed on August 4, 2022.
READ: Stuhini Exploration closes first tranche of private placement raising aggregate gross proceeds of $1M
The private placement is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory approvals including the approval of the TSX Venture Exchange.
All securities to be issued under the private placement will have a hold period of four months and one day from the closing of the applicable tranche of the placement.
Stuhini is a mineral exploration company focused on the exploration and development of its base and precious metal properties. The company's portfolio of exploration properties includes: its flagship, the Ruby Creek Property, located approximately 20 kilometres (km) east of Atlin, British Columbia (BC); the Que Project located approximately 70 km north of Johnson's Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; and the Big Ledge Property located approximately 57 km south of Revelstoke, BC.
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