Increases Land Holdings at Duvay Gold Project
Closes 1st tranche $150,000 Private Placement
Secova Metals Corp. (SEC.V) entered into an agreement to acquire up to 90 per cent of the original 105 claims at the advanced-stage Duvay gold project in Amos, Quebec.
The company recently acquired a 100-per-cent interest in 69 additional adjacent claims, for a total contiguous land package of 174 claims covering over 7,065 hectares (17,458 acres) of land.
Secova Metals Corp. also has closed the first tranche of a non-brokered private placement pursuant to which the company has issued 2.38 million flow-through shares at a purchase price of 5.5 cents per flow-through share and 400,000 units at a purchase price of five cents per unit for total gross proceeds of $150,900. The non-flow-through units also have a one-half warrant that when combined into a whole warrant allows the holder to purchase one common share of the company at 10 cents for a period of one year.
In connection with the financing, the company will pay $10,472 in cash commission and issue 190,400 finder warrants for the FT shares and $1,600 in cash commission and 32,000 finder warrants for the NFT units. The FT finder warrants and NFT finder warrants will be exercisable into common shares for a period of one year at an exercise price of 5.5 cents and five cents, respectively, per common share.