Non-brokered deal sells 35.3 million common shares at C$0.085 apiece
By Devika Patel
Knoxville, Tenn., May 22 - EMC Metals Corp. said it plans a C$3 million non-brokered private placement of stock.
The company will sell 35.3 million common shares at C$0.085 per share, which is a 22.73% discount to the May 21 closing share price of C$0.11.
Proceeds will be used for general working capital purposes on company projects.
Based in Vancouver, B.C., EMC is a specialty metals and alloys company focusing on scandium, tungsten, molybdenum, vanadium and other specialty metals.
| Issuer: | EMC Metals Corp.
|
| Issue: | Common stock
|
| Amount: | C$3,000,500
|
| Units: | 35.3 million
|
| Price: | C$0.085
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | May 22
|
| Stock symbol: | Toronto: EMC
|
| Stock price: | C$0.11 at close May 21
|
| Market capitalization: | C$16.91 million
|
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