Carcetti Capital Announces C$2.5 Million Convertible Debenture Issuance

Carcetti Capital Corp., based in Vancouver, declared plans to raise C$2.5 million through the issuance of convertible debentures to two key individuals within the company. These debentures, worth C$1.25 million each, are non-interest bearing and can be converted into common shares at a rate of C$2.00 per share, potentially adjusting to C$3.00 post-consolidation.

Further, the company will issue 5 million common shares at C$2.00 each, valued at C$10 million in total, to cover advisory fees related to its acquisition of Hemlo Gold Mine in Ontario. These shares are subject to certain restrictions and will be consolidated post-amalgamation with a subsidiary, changing Carcetti's name to Hemlo Mining Corp.

The issuance aligns with Carcetti's strategy to manage costs associated with the Hemlo acquisition, pending TSX Venture Exchange approval. The announcement includes forecasts regarding approvals and amalgamation but cautions about the inherent risks and uncertainties of forward-looking statements.