Metallum eyes $7.5 million placements of subscription receipts, units

Company sells receipts with units of a share, one half-share warrant

By Devika Patel

Knoxville, Tenn., June 8 – Metallum Resources Inc. said it will conduct a $5 million private placement of subscription receipts with a $2.5 million greenshoe and a $2.5 million non-brokered private placement of units.

Each receipt will convert into one common share.

The subscription receipts will be sold by a syndicate of agents led by Cormark Securities Inc. and including Dundee Securities Ltd. and Paradigm Capital Inc.

The company also will sell units of one common share and one half-share warrant. Each whole warrant will be exercisable for two years.

Metallum is a Toronto explorer of precious and base metals.

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