By Devika Patel
Knoxville, Tenn., July 9 - Full Metal Minerals Ltd. said it raised C$3.13 million in a private placement of units. The deal priced for C$4 million with a C$1 million greenshoe on May 13. The greenshoe was increased to C$1.01 million and the placement was increased to C$3.02 million on June 23.
The company sold 17,358,889 units at C$0.18 apiece. Of the units, 608,889 were part of the partially exercised greenshoe. Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at C$0.25 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$3,124,600 (including C$109,600 greenshoe)
|
| Units: | 17,358,889
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Canaccord Genuity Corp.
|
| Pricing date: | May 13
|
| Revised: | June 23
|
| Settlement date: | July 9
|
| Stock symbol: | TSX Venture: FMM
|
| Stock price: | C$0.22 at close May 13
|
| Market capitalization: | C$16.26 million
|
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