Oracle Commodity Holding Announces A $245,000 Private Placement
A Finder's fee of up to 7% in Finder's Units will be payable. Each Finder's Unit will consist of one Share and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional share of the Company at a price of $0.06 per share for three years.
Company insiders will be subscribing for up to 1,750,000 Units for gross proceeds of up to $61,250. The issuance of Units to the insiders will be considered a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company relies on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the insiders' participation in the Offering will not exceed 25% of the fair market value of the Company's market capitalization. The Company will file a material change report in respect of the related party transaction.
The Company is relying on the TSX Venture Exchange's minimum price exemption and anticipates closing of the Offering as soon as practicable. Closing of the Offering is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. The Units will be issued on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws and will be subject to a statutory hold period of four months and one day from the date of issuance.
The Company intends to use the net proceeds of the Offering for general corporate purposes, with no other specific use representing 10% or more of the gross proceeds of the Offering. None of the proceeds from the Offering will be used for payments to non-arm's length parties of the Company other than normal course compensation of its officers, directors, employees and consultants as part of general corporate purposes, or to persons conducting investor relations activities.
About Oracle Commodity Holding Corp.
Oracle Commodity Holding Corp. is a mining royalty company holding royalties on several precious metal and critical mineral mining projects.
Further information on Oracle Commodity can be found at .

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