Linear Minerals Corp. Announces Private Placement | LINMF Stock News

Linear Minerals Corp. ("Linear" or the "Company") (CSE:LINE)(OTCID:LINMF)(WKN:A40 Y3E) is pleased to announce a proposed non-brokered private placement for total gross proceeds of up to $900,000. The private placement will consist of issuing up to 8,000,000 flow-through common shares at $0.05 per share for gross proceeds of $400,000. The balance of the private placement will comprise the issuance of 10,000,000 hard-dollar common units at $0.05 cents per unit for gross proceeds of $500,000.Each hard-dollar unit consists of one common share and one common share purchase warrant. Each hard-dollar warrant entitles the holder to purchase one common share at a price of $0.25 for a period of one year from the issue date.In connection with the above-noted non-brokered private placement, a finder's fee of 6% cash will be paid to eligible finders in accordance with the policies of the Canadian Securities Exchange. Closing of the proposed private placement is subject to obtaining all required approvals, including from the CSE and any other regulatory approval. All securities issued pursuant to the private placement will be subject to a four-month hold period plus one day under applicable securities laws.The proceeds from the private placement will be used for general working capital and further exploration of its properties located in Quebec.ON BEHALF OF THE BOARD OFLINEAR MINERALS CORP."Gurminder Sangha" Gurminder Sangha CEO & DirectorFor further information, please contact the Company at info@linearminerals.comNeither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.Disclaimer for Forward-looking InformationExcept for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to obtain required approvals. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.SOURCE: Linear Minerals Corp.View the original press release on ACCESS Newswire