37 Capital Raises $300,000 in Private Placement
News related to:37 Capital Inc · 1 min read
37 Capital Inc. has successfully closed a private placement, raising a total of $300,000 in two tranches. The company issued 3,000,000 units, each priced at $0.10, to investors. Each unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one common share at $0.15 per share for a period of three years.
The funds raised will be partially utilized to make an initial payment under the option and asset purchase agreement with Quimbaya Gold Corp., which was signed on August 18, 2026. This agreement aims to further the company’s exploration and development efforts in the mining sector.
In addition to the financial transaction, 37 Capital Inc. also paid a finder’s fee of $3,500 in cash and issued 115,000 finder’s warrants. These warrants are exercisable at $0.15 per share for a period of two years. All securities issued under this private placement are subject to a four-month and one-day hold period as per applicable securities laws.
The company’s President and CEO, Jake H.
The proceeds from the private placement will be crucial for 37 Capital Inc. as it seeks to expand its operations and explore new opportunities in the mining sector. The company’s next steps will involve utilizing the funds to meet the initial payment obligations under the asset purchase agreement and to support ongoing exploration activities.