Pure Extraction Corp. closes $3,000,000 Financing
Vancouver, B.C., September 7, 2021 - Vancouver, British Columbia - Pure Extraction Corp. (“PURX” or the “Company”) has closed its previously announced and fully subscribed non-brokered private placement of units for gross proceeds of $3.0 million. The private placement consists of 2.4 million units at $1.25 per unit, where each unit consists of one common share and a common share purchase warrant. Each full warrant is exercisable at $2.00 into one common share, for a period of two years.
All securities issued pursuant to the unit financing will be subject to a four-month plus a day hold period under applicable securities laws in Canada.
In connection with the financing, the Company paid finder’s fees to arm’s length third parties consisting of $240,000 cash and issued 192,000 finder’s warrants. Each finder’s warrant is exercisable at $1.25 into one common share for a period of two years.
As per Multilateral Instrument 61-101, no insiders took part in the financing.
The Company intends to use the net proceeds from the financing for working capital and general corporate purposes.
On behalf of the Board of Directors of
PURE EXTRACTION CORP.
“Balraj Mann”
Director, President, Chief Executive Officer
Pure Extraction Corp.
Suite 440
755 Burrard Street
Vancouver, British Columbia V6Z 1X6
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.