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A field of đź«Žđź’©
Wingman
December 20, 2023
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
If ever compensated for an article, it will be mentioned here.
There are very few places in the world where you could lose as much money as quickly as in mining stocks
We're on the hunt for those monumental victories, but more often than not, we're navigating through moose pastures in pursuit of that elusive gold.
Before we jump into Wingman’s portfolio, let's take a quick look at today's news.
Here are some companies that seem to have attracted investors' attention and funds.
On Tuesday, at 8 AM ET, Abitibi Metals announced a $4 million flow-through private placement at up to $0.70/share. The interest in this opportunity became evident when $AMQ issued another news update at 10:30 AM ET, upsizing the private placement to $10 million!
The Offering consists of two parts, a) $9,500,000 of charity flow-through common shares (“CFT Shares”) priced at C$0.70/share for the issuance of 13,571,428 CFT Shares and b) $500,000 of flow-through common shares (“FT Shares”) priced at C$0.60/share for the issuance of 833,333 FT Shares. The FT Shares and CFT Shares will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act”).
At the start of the month, $AMQ announced a private placement with strategic investors, which concluded on Monday. It's important to note that the initial placement, initially set at $3M, closed at an upsized amount of $4.377M.
Nice job Abitibi Metals, nice job.
Toronto, ON: Global Atomic Corporation (“Global Atomic” or the “Company”) (TSX: GLO; OTC:QX:GLATF; FRANKFURT: G12) is pleased to announce a non-brokered private placement (the “Investment”) of 6,000,000 units of the Company (“Units”) at a price of C$2.50 per Unit for aggregate gross proceeds of C$15 million dollars. The Company has entered into a binding subscription agreement with Regent Mercantile Holdings Limited (“Regent”) and certain related companies for the subscription of an aggregate of 2,000,000 Units. Regent has also agreed to assist in arranging for the placement of the remaining 4,000,000 Units and has agreed to subscribe for any of the 4,000,000 Units that remain unplaced at closing.
Each Unit is comprised of one common share in the capital of the Company (a “Common Share”) and one half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) exercisable at C$3.00 per Common Share. Each Warrant will expire 12 months following the closing date of this Investment (the “Closing Date”) subject to accelerated expiry if the ten-day TSX volume weighted average price (“VWAP”) exceeds C$3.50 per Common Share for a period of five consecutive trading days.
Some other news that caught our eye:
One of Wingman’s plays missed the mark on this year’s drill program and we decided to lock in the loss. Subscribe to hear what we sold and the reason behind it.
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