Matador Launches C$3M Private Placement for Bitcoin, Gold Expansion
Matador Technologies Inc. (TSXV: MATA, OTCQB: MATAF) has launched a non-brokered private placement, aiming to raise up to C$3,000,000. The company is offering 5,454,546 units at $0.55 each. Details of the recent financing round's initiator and location remain unspecified.
The private placement is open to accredited investors only, pending final approval from the TSX Venture Exchange. Each unit comprises one common share and half of a common share purchase warrant, exercisable at $0.75 for 12 months. All securities issued will be subject to a four-month-and-one-day hold period.
Matador has included an acceleration clause in the warrant expiration, allowing it to speed up the process if the BTC price hits $1.05 or more for five consecutive trading days after four months and one day. The company plans to use the raised funds to buy Bitcoin, expand gold acquisition plans, and cover general corporate needs, as part of its strategy to strengthen its role in these markets.
Matador's private placement, despite lacking details on the recent financing round's initiator and location, offers an opportunity for accredited investors to support the company's growth in the Bitcoin and gold markets. The raised funds will contribute to Matador's business expansion and general corporate needs.
