Non-brokered deal to finance exploration and general working capital
By Devika Patel
Knoxville, Tenn., June 18 - Full Metal Minerals Ltd. said it settled a C$1.5 million non-brokered private placement of stock with Sierra Gorda Investment Co. Ltd. The deal priced for C$1.55 million on May 3.
The company sold 9,677,419 common shares at C$0.155 apiece, which is a 6.9% premium to the May 2 closing share price of C$0.145.
Proceeds will be used for exploration and general working capital.
The Vancouver, B.C., company explores for diamonds, copper, gold, silver, lead, zinc and uranium.
| Issuer: | Full Metal Minerals Ltd.
|
| Issue: | Common shares
|
| Amount: | C$1.5 million
|
| Shares: | 9,677,419
|
| Price: | C$0.155
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Sierra Gorda Investment Co. Ltd.
|
| Pricing date: | May 3
|
| Settlement date: | June 18
|
| Stock symbol: | TSX Venture: FMM
|
| Stock price: | C$0.145 at close May 2
|
| Market capitalization: | C$7.2 million
|
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