Morocco Strategic Minerals Corporation, listed on the TSX Venture Exchange as MCC, has announced a significant increase in its non-brokered private placement, raising the total from $5 million to an impressive $7.5 million, owing to heightened investor demand. This strategic move allows the company to offer up to 50 million units, each priced at $0.15. Investors should note that each unit comprises one common share along with a half of a common share purchase warrant. The granted warrants permit holders to acquire additional common shares at a price of $0.25 per share for a period of 24 months following the closure of the offering.
The successful execution of this offering is contingent upon receiving necessary approvals, including those from the TSX Venture Exchange. Furthermore, the securities issued through this private placement will be subjected to a statutory hold period of four months and one day, as mandated by Canadian securities legislation. Morocco Strategic Minerals intends to allocate the proceeds from this offering towards the acquisition and development of mining assets within Morocco, alongside funding general corporate initiatives. Although the company may compensate third parties with finder's fees for certain subscriptions, it has not engaged an agent to facilitate this offering.
Headquartered in Montreal, Morocco Strategic Minerals Corporation is primarily dedicated to the exploration of natural resource properties in both Canada and Morocco. The details outlined in this announcement are derived from the company's official press release.
As reported by streetinsider.com.
