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Gatling Exploration Inc.: Gatling Announces Closing of C$4.64 Million Financing
Company or
Gatling )
is pleased to announce that it has closed the brokered financing previously announced on November 25, 2020 (the Offering ). Sprott Capital Partners LP, as lead agent, and Canaccord Genuity Corp. acted as agents (the Agents ) for the Offering on a best efforts basis.
The Company received aggregate gross proceeds of $4,643,427 from the issuance of (a) 5,497,140 post-consolidation common shares of the Company issued on a flow-through basis (the FT Shares ) at a price of $0.55 per FT Share, and (b) 3,240,000 units of the Company (the Units ) at a price of $0.50 per Unit. Each Unit consists of one post-consolidation common share and one-half of one transferable common share purchase warrant, each whole warrant (a Warrant ) exercisable into one additional post-consolidated common share at a price of $0.70 per share. The Warrants are exercisable until December 18, 2022, provide
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