Valkea Resources arranges $3-million private placement

Executive Summary

• Valkea Resources Corp. has arranged a non-brokered private placement for aggregate gross proceeds of up to $3 million.
• The offering consists of up to 6 million units priced at $0.50 per unit, with proceeds designated for exploration and working capital purposes.
• Each unit includes one common share and a half warrant, with specific acceleration clauses for the warrants based on share price performance.

Key Details

• Structure: Non-brokered private placement.
• Units Offered: Up to 6,000,000 units.
• Price: $0.50 per unit.
• Gross Proceeds: Up to $3,000,000.
• Unit Composition: Each unit comprises one common share and one-half of one common share purchase warrant.
• Warrant Terms:
  • Exercise Price: $0.65 per share.
  • Duration: 24 months following the closing date.
  • Acceleration Clause: If the closing price on the TSX Venture Exchange equals or exceeds $0.90 for 10 consecutive trading days, the company may accelerate the expiry date to 30 trading days from the date of notice.
• Regulatory Basis: Offered under the listed issuer financing exemption pursuant to National Instrument 45-106 (Part 5A) and Coordinated Blanket Order 45-935.
• Hold Period: No hold period for Canadian resident subscribers, subject to TSX-V rules.
• Finder’s Fees:
  • Cash fee: Up to 6% of gross proceeds introduced by eligible finders.
  • Finders’ Warrants: Equal to 6% of the number of units introduced by the finder, on the same terms as the unit warrants.
• Use of Proceeds: Exploration and working capital.
• Closing Conditions: Subject to regulatory approvals, including TSX Venture Exchange approval. May close in one or more tranches.

Notable Quotes

• None provided in the text.