. Each Warrant entitles the holder to acquire one Common Share at an exercise price of $0.70 for a period of 24 months expiring May 14, 2023.
As a result of the Private Placement, New Found beneficially owns and controls 13,229,466 Common Shares of the Company and 6,666,667 Warrants representing approximately 13.6% of the issued and outstanding Common Shares of the Company on a non-diluted basis and approximately 19.2% on a fully diluted basis assuming exercise of the Warrants.
The Units were acquired by New Found for investment purposes.
As a result of the Private Placement, Mr. Sprott beneficially owns and controls 14,666,667 Common Shares of the Company and 14,666,667 Warrants representing approximately 15.1% of the issued and outstanding Common Shares of the Company on a non-diluted basis and approximately 26.3% on a fully diluted basis assuming exercise of the Warrants.
The Units were acquired by Mr. Sprott for investment purposes.
Michael Collins, President, CEO & Director stated “With the close of this funding Exploits will be able to expand it’s drill plans.
The securities being offered under the Private Placement have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S.
Exploits Discovery is a Canadian mineral exploration company focused on the acquisition and development of mineral projects in Newfoundland, Canada.
The sum of this knowledge is now coming together in discrete and effective exploration models that have delivered discovery such as New Found Gold’s 2019 discovery drill interval of 92.9 g/t Au over 19.0 metres near surface.
The team at Exploits, with significant local experience and knowledge, have studied the entirety of the Exploits Subzone and picked individual land packages for staking or joint venture where there is an opportunity for world class discoveries and mine development.
Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry.