Guerrero Ventures Announces Final Closing of Fully Subscribed Subscription Receipt Private Placement
Summary
The gross proceeds from the sale of the Subscription Receipts, less 50% of the Agents commission and Agents expenses payable on the closing date of the private placement, are being held in escrow by Computershare Trust Company of Canada in accordance with a subscription receipt agreement dated April 2, 2020 among Guerrero, Computershare Trust Company of Canada, Scotiabank and BMO Capital Markets. At the final closing, Guerrero paid the Agents a cash commission representing 6% of the gross proceeds raised, excluding funds received from an insider of the Company and a strategic investor. At the final closing, an officer and director of Guerrero as well as a control person of the Company (collectively, the "Insiders") purchased an aggregate of 453,622 Subscription Receipts for total proceeds of C$408,259.80. Completion of the Transaction is subject to a number of conditions, including, but not limited to, TSX Venture Exchange acceptance and, if applicable, disinterested shareholder approval. These risks, uncertainties and assumptions include, but are not limited to, those that will be described in the Companys continuous disclosure documents to be filed, and which will be available, on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements.