By Laura Lutz
Des Moines, Oct. 27 - Linear Metals Corp. negotiated a private placement of units for up to C$2.625 million.
The company plans to sell up to 3.5 million units of one share and one half-share warrant at C$0.75 per unit. Each warrant will be exercisable at C$1.00 for 18 months.
Proceeds of the non-brokered offering will be used for working capital, property acquisitions and exploration on the company's mineral properties.
Based in Halifax, Nova Scotia, Linear Metals explores for base metals and high-grade silver deposits in Mexico and Canada.
| Issuer: | Linear Metals Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$2.625 million
|
| Units: | 3.5 million
|
| Price: | C$0.75
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration; | 18 months
|
| Warrant strike price: | C$1.00
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 27
|
| Stock symbol: | C$0.70 at close Oct. 26
|
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