By Devika Patel
Knoxville, Tenn., Aug. 5 - Full Metal Minerals Ltd. said it increased a non-brokered private placement of units to C$4.5 million from C$2.02 million. The deal priced July 13.
The company will now sell 25 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. The strike price represents a 42.86% premium to the C$0.175 closing share price on July 12.
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$4.5 million
|
| Units: | 25 million
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | July 13
|
| Upsized: | Aug. 5
|
| Stock symbol: | TSX Venture: FMM
|
| Stock price: | C$0.175 at close July 12
|
| Market capitalization: | C$19.41 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
