Reflex Advanced Materials Corp. Closes Second Tranche of Private Placement
VANCOUVER, British Columbia, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Reflex Advanced Materials Corp. (CSE:RFLX) (FSE:HF2) (“Reflex” or the “Company”) announces that, further to its news releases of September 22, 2023 and October 16, 2023, which announced a private placement offering of units of the Company of up to $1,000,000 (the “Offering”) and the closing of the first tranche of the Offering, respectively, it has closed the second tranche of the Offering (the “Second Tranche”) issuing 2,300,000 units of the Company (each, a “Unit”) at a price of $0.20 per Unit for aggregate gross proceeds of $460,000.
- In connection with closing of the Second Tranche, the Company paid cash finder’s fees in the aggregate of $36,800.00 and issued a total of 164,000 finder’s warrants (each, a “Finder’s Warrant”).
- The net proceeds from the Second Tranche are intended to be used for general and administrative expenditures as well as non-flow-through exploration and evaluation expenditures.
- In accordance with the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions, the Units issued in connection with the Second Tranche are not subject to a hold period pursuant to applicable Canadian securities laws.
- This press release does not constitute an offer to acquire securities in any jurisdiction.
ON BEHALF OF THE BOARD OF DIRECTORS,