Transactions

Peterson McVicar Acts for Red Cloud in Churchill Private Placement of up to C$2.5 Million

On March 10, 2022 Churchill Resources Inc. (“Churchill” or the “Company”) announced that it had entered into an agreement with Red Cloud Securities Inc. (“Red Cloud”) to act as lead agent and sole bookrunner on behalf of a syndicate of agents that includes Canaccord Genuity Corp. (collectively, the “Agents”) in connection with a best efforts, private placement (the “Offering”) for gross proceeds of up to C$2,500,000 from the sale of any combination of the following:

 

  • units of the Company (each, a “Unit”) at a price of C$0.32 per Unit, subject to the minimum sale of 1,562,500 Units for gross proceeds of C$500,000 from the sale of Units; and
  • flow-through units of the Company (each, a “FT Unit”) at a price of C$0.35 per FT Unit.
  • The Units and FT Units shall collectively be referred to as the “Offered Securities”.

 

The Agents will have an option, exercisable in full or in part up to 48 hours prior to the closing of the Offering, to sell up to an additional C$500,000 in any combination of Offered Securities at the offering prices.

 

Churchill is managed by career mining industry professionals and currently holds four exploration projects, namely Taylor Brook in Newfoundland, Florence Lake in Labrador, Pelly Bay in Nunavut and White River in Ontario. All projects are at the evaluation stage, with known mineralized Ni-CuCo showings at Taylor Brook, Florence Lake and Pelly Bay, and diamondiferous kimberlitic intrusives at White River and Pelly Bay. The primary focus of Churchill is on the continued exploration and development of the Taylor Brook and Florence Lake Nickel Projects.

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