{
  "id": 12620846,
  "title": "Mayo Lake Minerals reduces flow-through unit price to $0.045",
  "url": "https://urgent.news/2026/10/07/mayo-lake-minerals-reduces-flow-through-unit-price-to-0-045",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T12:00:36.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/company-news/mayo-lake-minerals-reduces-flowthrough-unit-price-to-0045-93CH-4936455"
  },
  "original_language": "en",
  "account": "Ottawa - Mayo Lake Minerals Inc. has lowered the price at which investors can purchase flow-through units in its recent private placement. The new issue price stands at $0.045 per unit, down from the previously set price of $0.05. This reduction ensures that the maximum gross proceeds from the sale of these units remain at $500,000, which translates to an increase in the number of units up to 11,111,111. Each flow-through unit includes a common share and a warrant. The common share component of the offering has not changed; it remains priced at $0.04 per unit for a minimum of 5,000,000 units, ensuring a minimum gross proceeds of $200,000. The total potential gross proceeds for the entire offering are still expected to reach up to $700,000. Warrants included with each common share will allow holders to acquire one common share for a period of 30 months at an exercise price of $0.07 per share. The flow-through warrants have an exercise price of $0.08 per share for the same duration. The offering is anticipated to conclude on or around November 4, 2026, and may be executed in multiple tranches. The company has the option to compensate eligible finders with a commission of up to 8% of the gross proceeds. Additionally, the company might issue finder warrants equivalent to up to 8% of the units sold by these finders. All securities issued as part of this offering will be subject to a four-month and one-day statutory hold period from the issuance date. As always, the finalization of the transaction depends on obtaining the required corporate and regulatory approvals, including clearance from the Canadian Securities Exchange.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}