Non-brokered deal sells 15,056,632 common shares at C$0.085 per share
By Devika Patel
Knoxville, Tenn., July 11 – EMC Metals Corp. said it settled a C$394,505 second and final tranche of a C$1.28 million non-brokered private placement of stock. The deal priced for C$3 million on May 22 and raised C$885,309 on June 27.
The company sold 15,056,632 common shares at C$0.085 per share, which is a 22.73% discount to the May 21 closing share price of C$0.11. It sold 10,415,396 shares in the first tranche and 4,641,236 shares in the second.
Proceeds will be used for general working capital purposes on company projects.
Based in Vancouver, B.C., EMC is a specialty metals and alloys company focusing on scandium, tungsten, molybdenum, vanadium and other specialty metals.
| Issuer: | EMC Metals Corp.
|
| Issue: | Common stock
|
| Amount: | C$1,279,814
|
| Units: | 15,056,632
|
| Price: | C$0.085
|
| Warrants: | No
|
| Agent: | Non-brokered
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| Pricing date: | May 22
|
| Settlement date: | June 27 (for C$885,309), July 11 (for C$394,505)
|
| Stock symbol: | Toronto: EMC
|
| Stock price: | C$0.11 at close May 21
|
| Market capitalization: | C$17.8 million
|
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