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Defense Metals Closes Oversubscribed Private Placement of $6.1 Million
Defense Metals Closes Oversubscribed Private Placement of $6.1 Million Canada NewsWire ...
About this update from Defense Metals Corp.
[{"type":"text","content":"\n \n \n \n Defense Metals Closes Oversubscribed Private Placement of $6.1 Million\n \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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 8, 2022\n \n \n /CNW/ - Defense Metals Corp. (\"\n \n Defense Metals\n \n \" or the \"\n \n Company\n \n \") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce it has closed a previously announced, oversubscribed non-brokered private placement financing (the \"\n \n Private\n \n \n Placement\n \n \") for aggregate gross proceeds of\n \n $6,094,020.66\n \n , consisting of 12,364,172 flow-through common shares of the Company (each, a \"\n \n FT Share\n \n \") at a price of\n \n $0.28\n \n per FT Share and 11,963,875 units of the Company (each, a \"\n \n Unit\n \n \") at a price of\n \n $0.22\n \n per Unit.\n \n \n \n \n \n \n \n \n \n Each FT Share is a \"flow-through share\" within the meaning of the\n \n Income Tax Act\n \n (\n \n Canada\n \n ) (the \"\n \n Act\n \n \"). Each Unit consists of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a \"\n \n Warrant\n \n \"). Each Warrant entitles the holder thereof to purchase one common share of the Company at a price of\n \n $0.32\n \n for a period of 24 months from closing.\n \n \n The proceeds raised from the sale of the FT Shares will be used for advancing the Company's Wicheeda Rare Earth Element (\"\n \n REE\n \n \") Project that qualify as \"Canadian Exploration Expenditures\" (within the meaning of the Act) and the n...