Toronto, Ontario, June 24, 2022 (GLOBE NEWSWIRE) — Halcones Precious Metals Inc. (“Halcones”) and Pinehurst Capital II Inc. (TSXV: PINH.P) (“Pinehurst“) are pleased to announce that Halcones has closed its previously-announced brokered private placement (the “Subscription Receipt Offering“) of subscription receipts (the “Subscription Receipts“). Under the Subscription Receipt Offering, Halcones issued an aggregate of 11,462,200 Subscription Receipts at a price of $0.30 per Subscription Receipt (the “Issue Price“) for gross proceeds of $3,438,660. The Subscription Receipt Offering was completed pursuant to an agency agreement (the “Agency Agreement“) dated June 24, 2022 among Halcones, Pinehurst, Clarus Securities Inc. (the “Lead Agent“), iA Private Wealth Inc. and Haywood Securities Inc. (collectively with the Lead Agent, the “Agents“). The Subscription Receipts are governed by the terms of a subscription receipt agreement dated June 24, 2022 and among Halcones, the Lead Agent and Computershare Trust Company of Canada (“Computershare”) (the “Subscription Receipt Agreement”).
As previously announced, on January 25, 2022, Halcones and Pinehurst entered into an amalgamation agreement, as amended on May 20, 2022 (the “Amalgamation Agreement“) setting out the terms of the reverse take-over of Pinehurst by the shareholders of Halcones by way of a three-cornered amalgamation with a wholly-owned subsidiary of Pinehurst incorporated under the laws of the Province…
