Company to complete offering as part of planned qualifying transaction
By Devika Patel
Knoxville, Tenn., Feb. 25 – Element 79 Capital Inc. said it will raise between C$1 million and C$1.5 million in a private placement of stock conducted in connection with its qualifying transaction. Jones, Gable & Co. Ltd. is the agent.
The company will sell between 5,882,353 and 8,823,530 common shares at C$0.17 per share on a best-efforts basis. The price per share is a 15% discount to the Feb. 24 closing share price of C$0.20.
In the qualifying transaction, the shareholders of Canadian Gold Resources Ltd. will conduct a reverse takeover of the company.
The capital pool company is based in Montreal.
| Issuer: | Element 79 Capital Inc.
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| Issue: | Common stock
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| Amount: | C$1 million (minimum), C$1.5 million (maximum)
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| Shares: | 5,882,353 (minimum), 8,823,530 (maximum)
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| Price: | C$0.17
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| Warrants: | No
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| Agent: | Jones, Gable & Co. Ltd.
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| Pricing date: | Feb. 25
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| Stock symbol: | TSX Venture: EMS.P
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| Stock price: | C$0.20 at close Feb. 24
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| Market capitalization: | C$1.2 million
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