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.
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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.
