Vancouver, British Columbia--(Newsfile Corp. - July 9, 2024) - Canada One Mining Corp. (TSXV: CONE) (OTC Pink: COMCF) ("Canada One" or the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") consisting of up to 37,500,000 units of the Company, (each, a "Unit"), at a price of $0.02 per Unit.
Each Unit will consist of one (1) common share in the capital of the Company (each, a "Common Share") and one (1) whole Common Share purchase warrant (each, a "Warrant"). Each Warrant will be exercisable into one (1) Common Share (each, a "Warrant Share") at a price of $0.05 per Warrant Share for a period of three (3) years after the closing date of the Private Placement (the "Closing Date").
The Company intends to use the net proceeds of the Private Placement to fund its exploration and development of the Company's properties, extinguish liabilities and payables and for general administrative and working capital expenses. It is estimated that up to 10% of the net proceeds may be used to pay investor relations or market making services. It is also estimated that up to 10% of the net proceeds may be used to pay non-arms length parties. The Company may pay finder's fees as permitted by the policies of the TSXV and applicable securities laws.
The Private Placement is expected to close on or about August 23rd, 2024, subject to customary closing conditions, including, but not limited to, the receipt of all necessary approvals including the approval of the TSXV.
The Company's previously announced private placement on April 15, 2024 has been cancelled.
The Company also wishes to correct the terms of its CM1 copper property (the "Property") option first announced October 26, 2023. The work expenditure requirements on the Property are as follows:
incur $30,000 in expenditures on the Property before October 15, 2024;
incur a further $75,000 in expenditures on the Property before October 15, 2025; and
incur a further $100,000 in expenditures on the Property before October 15, 2026.
For further information, interested parties are encouraged to visit the Company's website at , or contact the Company by email at ir@strategixir.com, or by phone at 1.877.844.4661.
