On March 31, 2022, Churchill Resources Inc. completed an upsized brokered private placement of 4,687,500 units at a price of $0.32 per unit and 7,142,857 flow-through units at a price of $0.35 per flow-through unit for aggregate gross proceeds of $4 million, which includes the full exercise of the agents’ over-allotment option.
Each unit and flow-thought unit consists of one common share of Churchill and one-half of one common share purchase warrant. Each warrant entitles the holder to purchase one common share of Churchill at a price of $0.48 until March 31, 2024, subject to acceleration.
Cassels acted for Churchill.