By Devika Patel
Knoxville, Tenn., April 9 - Columbia Metals Corp. Ltd. said it has arranged a C$1.7 million private placement of units.
The company will sell 10 million units at C$0.17 each. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.25 for two years.
Proceeds will be used to advance Columbia's Lluvia-Jojoba gold and copper mine to commercial production.
Based in Toronto, Columbia Metals is a mineral exploration company, which acquires, explores and develops mineral properties located primarily in Mexico.
| Issuer: | Columbia Metals Corp. Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.7 million
|
| Units: | 10 million
|
| Price: | C$0.17
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Pricing date: | April 9
|
| Stock symbol: | TSX Venture: COL
|
| Stock price: | C$0.155 at close April 8
|
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