By Devika Patel
Knoxville, Tenn., July 13 - Full Metal Minerals Ltd. said it will raise C$2.02 million in a non-brokered private placement of units.
The company will sell 11.2 million units at C$0.18 apiece. Each unit consists of one common share and a half-share warrant. Each whole warrant is exercisable at C$0.25 for two years.
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.
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Issue: | Units of one common share and a half-share warrant
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Amount: | C$2,016,000
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Units: | 11.2 million
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Price: | C$0.18
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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$0.25
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Agent: | Non-brokered
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Pricing date: | July 13
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Stock symbol: | TSX Venture: FMM
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Stock price: | C$0.175 at close July 12
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Market capitalization: | C$16.25 million
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