Offering sells 13,770,432 units of one share and a half-share warrant
By Devika Patel
Knoxville, Tenn., Dec. 1 - Metallum Resources Inc. said it completed a C$2.48 million private placement of units.
The company sold 13,770,432 units of one common share and one half-share warrant at C$0.18 per unit.
Each whole warrant is exercisable at C$0.30 for 18 months. The strike price is an 81.82% premium to the Nov. 30 closing share price of C$0.165.
Proceeds will be used for exploration on the company's M-18 gold and silver property in Argentina, generative exploration programs and general working capital.
Metallum is a Toronto explorer of precious and base metals.
Issuer: | Metallum Resources Inc.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$2,478,678
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Units: | 13,770,432
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Price: | C$0.18
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Warrants: | One half-share warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.30
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Settlement date: | Dec. 1
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Stock symbol: | TSX Venture: MRV
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Stock price: | C$0.14 at close Dec. 1
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Market capitalization: | C$7.8 million
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