Calgary, Alberta--(Newsfile Corp. - December 30, 2024) - Record Resources Inc. (TSXV: REC) reports that is has closed its previously announced financing (November 21, 28, 2024 news releases).
Record has closed a $330,000 LIFE Offering and $107,000 first tranche of a Private Placement. The combined Offering raised totals proceeds of $437,000 through the issuance of 14,566,665 Units. Each Unit, priced at $0.03, consisted of one common share and one half-share purchase warrant of the company. Each whole warrant is exercisable at a price of $0.05 per share for a period of 36 months following the closing of the Offering.
In connection with the offering, the company paid a finder's fee and issued finder shares and finder warrants to EMD Financial Inc., as well as any other registrants participating in the offering, consisting of: (i) cash finder's fees of 8% of the gross proceeds of the Offering; (ii) finder shares in an amount equal of 4% of the number of Units issued pursuant to the Offering; and (iii) finder warrants in an amount equal of 4% of the number of Units issued pursuant to the Offering, exercisable at a price of $0.05 per common share for a period of 36 months following the closing of the Offering.
Completion of the offering is subject to certain conditions including the receipt of all necessary regulatory approvals including the TSX Venture Exchange. The company reports that, following the close of this financing, it will have 103,637,659 shares outstanding.
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