Corcel Exploration closes CAD$2.68M private placement

Corcel Exploration Inc. (CSE: CRCL) (OTCQB: CRLEF) (FSE: Y67) has closed a non-brokered private placement, issuing 26,765,000 units at $0.10 per unit for gross proceeds of CAD$2,676,500, according to a press release from the Vancouver-based company.

Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional share at $0.20 per share until October 8, 2028.

The company intends to use the net proceeds for exploration at its Yuma King Project in Arizona and for general working capital purposes.

In connection with the offering, the company paid finders fees of $126,990 in cash and issued 1,269,900 finder's warrants, each exercisable at $0.20 per share until October 8, 2028.

All securities issued are subject to a statutory hold period expiring February 9, 2027.

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