In January 2018, SLAM raised $25,000 through a flow-through placement by CEO Mike Taylor.
In 2016, SLAM raised total proceeds of $335,680 by placement of 4,394,000 Units and 1,200,667 Flow-Through Units at a price of $0.06 per Unit and $0.06 per FT Unit. The financing was in two tranches that closed July 27 and August 12.
The Company received payments of 300,000 CNX shares and $100,000 cash on closing the sale of the Superjack and Nash projects. SLAM to receive an additional $375,000 in cash and/or Callinex shares over a 3-year period. SLAM retains a 1% NSR royalty on Superjack and Nash subject to back of 0.5% NSR for $500,000. The NSR will increase by 0.25% when zinc prices exceed US $1.25 per pound and an additional 0.25% when zinc rises above US $1.50 per pound.
In the first tranche of a $500,000 private placement announced April 19, 2016, the Company sold 400,000 Units and 1,065,000 FT Units at $0.05 each to raise $73,250 as announced May 11, 2016. Each Unit is comprised of one common share and one warrant. Each FT Unit is comprised of one common share and one-half warrant. Each whole warrant entitles the holder to acquire one common share at a price of $0.06 for a period of 24 months, expiring on May 11, 2018. The Units are subject to a hold period and cannot be traded until September 12, 2016.
This follows a similar offering that closed March 21 when SLAM announced completion of $235,000 by placement of 2,200,000 Units and 2,500,000 FT Units. Directors of the Company subscribed for an aggregate 1,600,000 FT Units and 1,400,000 Units.
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