VANCOUVER, BC / ACCESSWIRE / March 4, 2020 / VERTICAL EXPLORATION INC. (TSXV:VERT) (“Vertical” or “the Company”) announces that it is extending closing of the previously announced private placement (see Press Release dated January 24, 2020) from March 9, 2020 to April 15th, 2020.
Terms remain the same, a non-brokered private placement of up to 26 million units (“Units”) at a price of $0.05 per Unit for aggregate gross proceeds of $1,300,000.00 (the “Offering”). Each Unit will be comprised of one common share of the Company (“Share”) and one-half of one transferable share purchase warrant of the Company (“Warrant”). Each whole Warrant will entitle the Subscriber to purchase one Warrant Share for a 24-month period after the Closing Date at an exercise price of $0.07 per share. Proceeds raised from the Offering will be used to advance the Company’s St. Onge project in Quebec, for general working capital and unallocated funds as per Tier 2 status requirements.
Finders’ fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
This offering is subject to TSX Venture Exchange acceptance.
ABOUT VERTICAL EXPLORATION
Vertical Exploration’s mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company’s flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.
ON BEHALF OF THE BOARD
Peter P. Swistak, President
FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995 Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Vertical Exploration Inc.
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