Carlyle Commodities Corp. has successfully closed the second tranche of its $250,000 unit offering. The company raised $35,000 from the sale of 140,0
Carlyle Commodities Corp. has successfully closed the second tranche of its $250,000 unit offering. The company raised $35,000 from the sale of 140,000 units, each consisting of one common share and one-half of one share purchase warrant. The offering, which is subject to a statutory hold period, will be used for general working capital. This news release provides details on the offering and its terms.
Top Reads: Carlyle Commodities Corp Completes Phase 1 Drill Program at Newton Gold-Silver Project
Overview – Carlyle Commodities
- Carlyle Commodities Corp. has closed the second tranche of its $250,000 unit offering, raising $35,000 in gross aggregate proceeds.
- The offering consisted of 140,000 units, each consisting of one common share and one-half of one share purchase warrant.
- The warrants entitle the holder to purchase one additional share at a price of $0.375 per warrant share for a period of thirty-six months following issuance.
- The offering is subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102 – Resale of Securities.
Details of the Offering
Each unit sold in the offering consisted of one common share and one-half of one share purchase warrant. The warrants entitle the holder to purchase one additional share at a price of $0.375 per warrant share for a period of thirty-six months following issuance. The warrants are subject to an acceleration provision that allows the company to accelerate the expiry date if the shares have a closing price on the CSE of $0.50 or greater for a period of ten consecutive trading days.
The offering is subject to a statutory hold period expiring four months and one day after the date of issuance, as set out in National Instrument 45-102 – Resale of Securities. This means that the securities cannot be traded during this period.
Use of Proceeds
The aggregate proceeds of the first and second tranches of the offering, which amount to approximately $220,000, will be used for general working capital. This provides the company with additional funds to support its operations.
Conclusion – Carlyle Commodities
Carlyle Commodities Corp. has successfully raised $35,000 in gross aggregate proceeds from the second tranche of its $250,000 unit offering. The company plans to use the funds for general working capital, supporting its operations. The offering consisted of 140,000 units, each consisting of one common share and one-half of one share purchase warrant. The warrants entitle the holder to purchase one additional share at a price of $0.375 per warrant share for a period of thirty-six months following issuance. The offering is subject to a statutory hold period expiring four months and one day after the date of issuance.
COMMENTS
Carlyle Commodities’ Newton gold-silver project is looking like it has a lot of potential and I think stock prices for the company will soon reflect this. For those that are on the sidelines about this, maybe you should think about buying some units at the next unit offering. I’m thinking it’s going to be worth it.
They drilled a 1000 meters hole in British Columbia for this project. They are looking into testing high-priority targets to up the tonnage and ounces. I like what I’m hearing about them. Will be on the lookout for their next unit offering.
The depth they went to is a pretty big deal as anything over the 500 meters mark is very impressive. Their first goal was 500 and then they went as far as they could. I’m not sure if they can go any deeper but if they can their stock price should go up considerably. It’s a good idea to keep an eye on what these guys are doing in BC.
Looks like a good deal for both parties involved. Having the option to buy additional shares at a good price makes for an attractive proposition. CC does like it can have a bright future ahead and probably makes for a good investment.
I would say now is a good time to invest in such companies (since prices are generally down). I’ve been investing in companies that should be good earners in 1-2 years. I don’t buy a lot at one time, but buy shares here and there, keeping track of the money I spend.