Business
Azarga Metals Closes Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED S...
About this update from Azarga Metals Corp.
[{"type":"text","content":"Azarga Metals Closes Private PlacementNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESWHITE ROCK, BC / ACCESSWIRE / March 29, 2021 / AZARGA METALS CORP. (\"Azarga Metals\" or the \"Company\") (TSXV:AZR) has now closed its non-brokered private placement as announced by the Company on February 16 and February 24, 2021. The Company has issued 20,833,329 units (a \"Unit\") at a price of $0.06 per Unit raising proceeds totaling $1,250,000 (the \"Offering\").Each Unit consists of one common share of the Company (each, a \"Share\") and one-half of one Share purchase warrant (each whole warrant, a \"Warrant\"). One Warrant entitles the holder thereof to purchase one Share of the Company at a price of $0.12 per Share for a period of two years from the closing of the Offering.The Company paid $71,387 cash and issued 1,189,797 broker warrants, on the same terms as a Warrant, in satisfaction of finder's fees on the Offering.All securities issued in connection with the Offering will be subject to a four-month and a day hold period.The Company intends to use the proceeds of the Offering to fund the cost of the PEA preparation on the Company's Unkur project and for general working capital purposes.About Azarga Metals Corp.Azarga Metals is a mineral exploration and development company that owns 100% of the Unkur Copper-Silver Project in the Zabaikalsky administrative region in eastern Russia. On completion of a first phase physical exploration program in 2016-2018, the Company estimated an Inferred Resource of 62 million tonnes at 0.53% copper and 38.6g/t silver for the project in the report entitled \"Technical Report and Preliminary Economic Assessment for the Unkur Copper-Silver Project, Kodar-Udokan, Russian Federation\" dated effective 30, August 2018 authored by Tetra Tech Mining & Minerals.AZARGA METALS CORP.\"Michael Hopley\"Michael Hopley,President and Chief Executive OfficerFor further information please contact: Doris Meyer, at +1 604 536-2711 ext. 6, visit www.azargametals.com or follow us on Twitter @AzargaMetals. The address of the head office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia, Canada.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) a...