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African Metals Corporation Announces Proposed Private Placement
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[{"type":"text","content":"African Metals Corporation Announces Proposed Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n TORONTO, Ontario - The Newswire - March 23, 2021 - African Metals\nCorporation (NEX:AFR.H) (“\n \n African\nMetals\n \n ” or the “\n \n Company\n \n ”) is pleased to announce the intention to raise up\nto C$300,000 by way of a non-brokered private placement of up to\n4,000,000 common shares at a price of C$0.075 per common share (the\n\"\n \n Private Placement\n \n \")\nbased on the discounted market price at the close of trading on March\n22, 2021 in accordance with the policies of the TSX Venture Exchange\n(the “\n \n TSXV\n \n ”).\n \n \n All common shares issued under the Private Placement will be subject\nto a four-month plus one day hold period in accordance with applicable\nCanadian securities laws.  Closing of the Private Placement is\nsubject to receipt of all necessary regulatory approvals, including\nthat of the TSXV, and other usual closing conditions, which includes,\nbut is not limited to, execution of subscription agreements between\nthe Company and the subscribers. The Private Placement is expected to\nclose within 45 days. The Company will not be paying a finder's fee\nor commissions in connection with the proposed private placement. The\ndirectors of the Company have indicated their intention to participate\nin the private placement in keeping with their intention to align\ntheir interests with those of the shareholders.\n \n \n As indicated in previous press releases, the Company intends to\nexamine projects other than its existing mineral exploration project\nin Montana (the “SBSL Project”) which is subject to acceptance by\nthe TXSV. No specific other projects have been identified at this\ntime. The proceeds of the Private Placement will primarily be used to\nfund the Company’s search for, and due diligence expenses related\nto, potential new projects and for general administrative expenses\nwithout having to utilize any of the Company’s existing working\ncapital.\n \n \n This news release shall not constitute an offer to sell any of the\ncommon shares in the United States where such offer, solicitation or\nsale would be unlawful. The common shares have not been registered\nunder the United States Securities Act of 1933, as...