By Sheri Kasprzak
Atlanta, June 7 - Full Metal Minerals Ltd. said it plans to raise up to C$1 million in a private placement.
The non-brokered offering includes up to 2.5 million units at C$0.40 each.
The units consist of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.55 each for two years.
In other news, Full Metal has extended the expiry date on 2,872,500 outstanding warrants to Nov. 27 from May 27. The warrants are exercisable at C$0.75 each and were issued in May 2004 as part of an initial public offering of 5.75 million units.
Based in Vancouver, B.C., Full Metal Minerals is a mineral exploration company.
| Issuer: | Full Metal Minerals Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1 million (maximum)
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| Units: | 2.5 million (maximum)
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| Price: | C$0.40
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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$0.55
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| Pricing date: | June 6
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| Stock price: | C$0.40 at close June 6
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