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DEFENSE METALS ANNOUNCES BEST EFFORTS PRIVATE PLACEMENT FINANCING FOR GROSS PROCEEDS OF UP TO $15 MILLION
DEFENSE METALS ANNOUNCES BEST EFFORTS PRIVATE PLACEMENT FINANCING FOR GROSS PROCEEDS OF UP TO $15...
About this update from Defense Metals Corp.
[{"type":"text","content":"\n\n\nDEFENSE METALS ANNOUNCES BEST EFFORTS PRIVATE PLACEMENT FINANCING FOR GROSS PROCEEDS OF UP TO $15 MILLION\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\n/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATES/\nVANCOUVER, BC, Oct. 20, 2025 /CNW/ - Defense Metals Corp. (TSXV: DEFN) (\"Defense Metals\" or the \"Company\") is pleased to announce that it intends to complete a private placement consisting of (i) a brokered offering of up to 33,334,000 units of the Company (the \"Units\") for gross proceeds of up to approximately $10,000,000 (the \"Brokered Offering\"), and (ii) a non-brokered offering of up to 16,666,667 Units for gross proceeds of up to approximately $5,000,000 (the \"Non-Brokered Offering\"), all for aggregate gross proceeds of up to approximately $15,000,000 (collectively, the \"Offering\"). The Company has entered into an agreement with Paradigm Capital Inc., as lead agent on behalf of a syndicate of agents (collectively, the \"Agents\"), in connection with the Brokered Offering.\n\n\n\n\n\n\n\nEach Unit will consist of one common share in the capital of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share (each a \"Warrant Share\") at an exercise price of $0.45 for a period of three years following the Closing Date (as defined herein).\nThe Warrants will be subject to an acceleration provision whereby, if the closing price of the Common Shares on the TSX Venture Exchange (the \"TSXV\") equals or exceeds $0.90 for ten consecutive trading days, the Company may, at its sole discretion, accelerate the expiry date of the Warrants by providing written notice to holders via news release. In such event, the Warrants will expire on the 30th day following the date of the news release, unless exercised prior thereto.\nThe Company has also granted the Agents an option (the \"Agents' Option\") to...