300,000 Dollar Private Placement
37 Capital Secures $300,000 in Private Placement Closings for Quimbaya Gold Agreement
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37 Capital Inc. (CSE: JJJ) has closed the first phase of its private placement, raising $300,000 across two tranches Chatham Daily News. The company issued 3 million units at $0.10 each, with each unit containing one common share and one warrant to buy shares later The Sudbury Star.
Investors can use their warrants to purchase common shares at $0.15 per share anytime over the next three years The Observer. The company plans to use part of the money for an initial payment on a gold asset deal with Quimbaya Gold Corp Hanna Herald.
How the Private Placement Works
Each unit sold contains two parts: a common share and a warrant Seaforth Huron Expositor. Warrant holders can buy one additional common share at $0.15 per share within three years Ontario Farmer. This structure lets investors own shares now while locking in future purchase rights.
Two-Tranche Funding Close and Restrictions
37 Capital split the $300,000 raise into two separate tranches Cochrane Times Post. All securities issued carry a four-month and one-day hold period under Canadian securities law Goderich Signal Star. Buyers cannot sell their shares or warrants until this hold period expires.
Gold Acquisition Plans with Quimbaya Gold
The company earmarked proceeds for an option and asset purchase agreement with Quimbaya Gold Corp Fairview Post. This deal marks 37 Capital's first major capital deployment after the funding close Woodstock Sentinel-Review. Details on the specific assets or payment terms were not disclosed.
CSE Disclaimer and Next Steps
The Canadian Securities Exchange has not reviewed or verified the accuracy of this announcement The Crag and Canyon. As a partial closing, 37 Capital may continue raising additional funds in future tranches Daily Herald Tribune. Investors should review all regulatory filings before making decisions.
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