Axcap Ventures' $15 Million Special Warrant Offering

Axcap Ventures Inc. (CSE:AXCP) has announced a $15 million non-brokered private placement. The offering involves issuing up to 75 million special warrants at $0.20 each. These warrants will automatically convert into units, each consisting of a common share and a purchase warrant, enabling holders to acquire additional shares at $0.20 for five years.

The automatic conversion will occur within four months and a day or earlier upon certain conditions. Axcap Ventures plans to use the proceeds for advancing mineral investments, working capital, and corporate expenses. The offering is projected to close around November 4, 2024, pending all necessary approvals.

Additionally, finder's fees might be paid, and 3L Capital Inc. has been appointed as Financial Advisor. The securities are exempt from U.S. registration and are subject to a four-month hold period post-closure.