By Devika Patel
Knoxville, Tenn., April 14 - Volcanic Metals Corp. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 6 million units at C$0.25 apiece. Each unit consists of one common share and one half-share warrant. Each whole two-year warrant will be exercisable at C$0.40.
Proceeds will be used for mineral property exploration and general working capital.
The capital pool company is based in Vancouver, B.C.
Issuer: | Volcanic Metals Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$1.5 million
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Units: | 6 million
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Price: | C$0.25
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Warrants: | One half-share warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.40
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Agent: | Non-brokered
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Pricing date: | April 14
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Stock symbol: | TSX Venture: VOL
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Stock price: | C$0.33 at close April 13
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Market capitalization: | C$4.27 million
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