Non-brokered offering will finance exploration and working capital
By Devika Patel
Knoxville, Tenn., April 30 - Full Metal Zinc Ltd. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one half-share warrant at C$0.15 per unit. Each whole warrant is exercisable at C$0.20 for two years.
The strike price represents a 66.67% premium to C$0.12, the April 27 closing share price.
Proceeds will be used for exploration on the company's projects and general working capital.
Full Metal is a zinc explorer in Vancouver, B.C.
| Issuer: | Full Metal Zinc Ltd.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$1.5 million
|
| Units: | 10 million
|
| Price: | C$0.15
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.20
|
| Warrant expiration: | Two years
|
| Agent: | Non-brokered
|
| Pricing date: | April 30
|
| Stock symbol: | TSX Venture: FZ
|
| Stock price: | C$0.12 at close April 27
|
| Market capitalization: | C$5.04 million
|
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