By Devika Patel
Knoxville, Tenn., May 13 - Full Metal Minerals Ltd. said it will raise C$4 million in a private placement of units. There is a C$1 million greenshoe.
The company will sell 20 million units at C$0.20 apiece. Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at C$0.28 for two years.
Canaccord Genuity Corp. is the agent.
Proceeds will be used for exploration and general working capital.
Based in Vancouver, B.C., Full Metal is a mineral exploration company focused on properties in Alaska.
| Issuer: | Full Metal Minerals Ltd.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | C$4 million
|
| Greenshoe: | C$1 million
|
| Units: | 20 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.28
|
| Agent: | Canaccord Genuity Corp.
|
| Pricing date: | May 13
|
| Stock symbol: | TSX Venture: FMM
|
| Stock price: | C$0.22 at close May 13
|
| Market capitalization: | C$19.9 million
|
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