On February 22, 2024, Cleghorn Minerals Ltd. closed the transaction. Three insiders participated in the private placement offering for aggregate cash consideration of CAD 125,000. The acquiror indirectly acquired 1,400,000 units at a per Unit price of CAD 0.05 for total cash consideration to the Issuer of CAD 70,000 under a private placement. As a result of issuance to the acquiror of the units under the Offering, the acquiror?s ownership percentage of common shares of the company increased by approximately 2.69% and the acquiror?s security holding percentage on a post-conversion beneficial ownership basis increased by approximately 5.2%. Immediately before the transaction, the acquiror owned, directly and indirectly, an aggregate 4,952,866 common shares of the company representing approximately 15.72% of the Issuer?s then issued and outstanding common shares and owned options entitling the purchase of an aggregate 650,000 common shares of the Issuer and warrants entitling the purchase of an aggregate 817,666 common shares of the Issuer, or, assuming exercise of the options and warrants, a total of 6,420,732 common shares or approximately 19.47% of the Issuer?s common shares on a post-conversion beneficial ownership basis. Immediately after the transaction the acquiror owns, directly and indirectly, an aggregate 6,352,866 common shares of the Issuer representing approximately 18.41% of the Issuer?s now issued and outstanding common shares and owns options entitling the purchase of an aggregate 650,000 common shares of the Issuer and warrants entitling the purchase of an aggregate 2,217,866 common shares of the Issuer, or, assuming exercise of the options and warrants, a total of 9,220,732 common shares or approximately 24.67% of the Issuer?s common shares on a post-conversion beneficial ownership basis.
On February 22, 2024, the company announced that the TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from four placees and three insiders investing CAD 2,500,000.