By Laura Lutz
Des Moines, Oct. 24 - Full Metal Minerals Ltd. arranged a private placement for up to C$4.025 million.
The company plans to sell up to 1.75 million units of one share and one half-share transferable warrant for C$2.30 per unit.
Each whole warrant will be exercisable at C$3.00 for two years.
Canaccord Adams, the agent for the deal, also received a greenshoe for up to 250,000 units.
Proceeds will be used for exploration and working capital.
Full Metal is a Vancouver, B.C.-based mineral company focused on properties in Alaska.
| Issuer: | Full Metal Minerals Ltd.
|
| Issue: | Units of one share and one half-share transferable warrant
|
| Amount: | C$4.025 million
|
| Units: | 1.75 million
|
| Greenshoe: | For 250,000 units
|
| Price: | C$2.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$3.00
|
| Agent: | Canaccord Adams
|
| Pricing date: | Oct. 24
|
| Stock symbol: | TSX Venture: FMM
|
| Stock price: | C$2.46 at close Oct. 23
|
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