Vault Strategic Mining Corp Closes Non-Brokered Private Placement
News related to:Vault Strategic Mining Corp · 2 min read
Vault Strategic Mining Corp. has successfully closed a non-brokered private placement, raising $1,500,000 through the issuance of 12,000,000 units at a price of $0.125 per unit. Each unit consists of one common share and one transferable common share purchase warrant, with each warrant entitling the holder to acquire one additional common share at an exercise price of $0.20 per share for a period of twelve months from the date of issuance, expiring on January 29, 2027. The net proceeds from the private placement will be used to fund exploration activities and for general corporate purposes.
The company has also paid finders' fees totaling $80,400 in cash and issued 643,200 non-transferable finders' warrants. These finders' warrants allow the holders to purchase one common share at a purchase price of $0.20 per share until September 28, 2027, subject to the same acceleration provision as the common share purchase warrants. The finders' warrants are subject to a regulatory hold period expiring on January 29, 2027, in accordance with applicable securities laws.
Additionally, the company reported that certain insiders participated in the private placement through the issuance of an aggregate of 900,000 Units (the “Insider Participation”). This Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions, as the fair market value of the Insider Participation does not exceed 25% of the Company’s market capitalization.
Vault Strategic Mining Corp. is a North American resource company focused on acquiring and advancing strategic and critical mineral projects in top-tier mining jurisdictions. The company targets historical and underexplored assets with the potential for value creation through modern exploration and disciplined development. The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions, as the fair market value of the Insider Participation does not exceed 25% of the Company’s market capitalization.
Vault Strategic Mining Corp. trades on the TSX Venture Exchange (TSXV: KNOX), OTC Markets (OTCID: KNXFF), and the Frankfurt Stock Exchange (FSE: M850).
The Private Placement is subject to final TSX Venture Exchange approval (the "Exchange"). The Warrants have an acceleration provision, which provides that in the event that after four months and one day from the date of issue of the Warrants, if the closing price of the Company's common shares on the Exchange or any other stock exchange on which the Company's common shares are then listed, is at a price equal to or greater than $0.30 for a period of five (5) consecutive trading days, the Company will have the right to accelerate the expiry date of the Warrants by issuing a press release or other form of notice (the "Notice") permitted by the certificate representing the Warrants, announcing that the Warrants will expire at 5:00 p.m. (Pacific Daylight Time) on the date that is not less than 30 days from the date the Notice is given.
Vault Strategic Mining Corp. is committed to transparent and responsible exploration and development in the mining industry. The company’s focus on strategic and critical minerals positions it well for future growth and value creation. Investors and stakeholders are encouraged to follow the Company on LinkedIn, X, and to subscribe for updates at vaultstrategic.com.