First Nordic Raises $3.9M during July from Warrants and Options
The proceeds of the Incentive Program warrants as well as the additional Company warrants and stock options will be used for exploration and development of the Company's projects and for working capital purposes.
Incentive Program
A total of 1,774,558 common shares in the capital of the Company (each a "Common Share") were issued upon the exercise of 1,774,558 outstanding share purchase warrants (the "Outstanding Warrants") permitted to participate under the Incentive Program, providing gross proceeds of
For every Outstanding Warrant exercised, the holders of such Outstanding Warrant received the one Common Share to which they were otherwise entitled under the terms of the Outstanding Warrants and one-half of one common share purchase warrant (each whole warrant, an "Incentive Warrant"). Each Incentive Warrant allows the holder to acquire one Common Share at an exercise price of
Holders of 3,161,558 Outstanding Warrants were eligible to participate in the Incentive Program. For those holders of Outstanding Warrants who chose not to participate in the Incentive Program, such Outstanding Warrants will remain outstanding and continue to be exercisable for Common Shares on their current terms (including the amended exercise price of
The Incentive Warrants issued pursuant to the Incentive Program, and the Common Shares issuable on exercise thereof, are subject to a hold period ending
Additional Warrants and Stock Options
Since
ABOUT FIRST NORDIC METALS
The Company's flagship asset is the Barsele gold project, located in
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO, Director
Follow First Nordic Metals:
Twitter: @fnmetals
Youtube: @firstnordicmetalscorp
LinkedIn: @firstnordicmetals
Facebook: @FirstNordicMetals
Instagram: @firstnordicmetals
Neither the
Cautionary Note Regarding Forward-Looking Statements:
This release contains "forward
‐
looking information" or "forward-looking statements" within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to receipt of TSXV acceptance of the Incentive Program and use of proceeds from the Incentive Program. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of gold and other commodities, operating hazards and risks inherent in the resource industry, competition and other risks and uncertainties, including those described in the Company's financial statements and/or management discussion and analysis available on www.sedarplus.ca The Company does not undertake to update forward
‐
looking statements or forward-looking information, except as required by law.
SOURCE