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.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2,478,678
|
| Units: | 13,770,432
|
| Price: | C$0.18
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.30
|
| Settlement date: | Dec. 1
|
| Stock symbol: | TSX Venture: MRV
|
| Stock price: | C$0.14 at close Dec. 1
|
| Market capitalization: | C$7.8 million
|
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