Mosaic misses quarterly profit estimates, finance chief to retire
Mosaic had cut its Q3 production forecast following equipment failures in Canada and hurricanes at the US Gulf Coast.
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2022) - Keon Capital Inc. (TSXV: KEON.H) (the "Company") confirms that it is continuing its efforts to complete a private placement financing of up to 2,000,000 Common shares at $0.25 per share for gross proceeds of $500,000 (the "Private Placement"), and the proposed issuance of an additional 946,544 Common shares at $0.25 per share to settle Company debts of $236,636, including certain amounts owing to Company insiders (the "Debt Settlement"), both as first announced in the Company's press release dated April 18, 2022. The contemplated issue price of $0.25 per share represents an approximate discount of 25% to the Company's last closing share price of $0.33.
The Private Placement and the Debt Settlement have been conditionally accepted by the TSX Venture Exchange ("TSXV"), but remain subject to customary conditions, including the final acceptance of the TSXV. The Company shares issued upon closing of the Private Placement and the Debt Settlement will be subject to a statutory 4-month hold period. There are no finder's fees or commissions payable in connection with these transactions.
On behalf of the Board of Directors
"William Murray"
President, CEO and Director
Tel: (604) 288 2553
Email: [email protected]
Forward-Looking Statement Cautions: This news release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the proposed completion of the Private Placement and the Debt Settlement transactions, the intended use of proceeds of the Private Placement, and an anticipated changes to the Company's board of directors. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Readers are urged to refer to the Company's public disclosure record available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
Neither 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126216
