Linear Announces Acquisition, Share Consolidation and Private Placement
Linear Minerals Corp. announced a letter of intent to acquire Critical Prospecting Corp. and its portfolio of uranium, tungsten-molybdenum, and lithium projects for $1.197 million, payable in 4.788 million post-consolidation shares. The transaction is coupled with a 5.75:1 reverse stock consolidation to address listing compliance and a concurrent private placement raising up to $2.5 million in new capital.
Key figures
- Deal Value Usd
- 1197000
- Offering Price
- 0.225
- Hard dollar units
- 6666667
- Flow through price
- 0.25
- Flow through shares
- 4000000
- Reverse split ratio
- 5.75:1
- Warrant term months
- 18
- Warrant exercise price
- 0.5
- Total proceeds hard dollar
- 1500000
- Total proceeds flow through
- 1000000
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