Business
Defense Metals Closes Private Placement Financing
Defense Metals Closes Private Placement Financing Canada NewsWire V...
About this update from Defense Metals Corp.
[{"type":"text","content":"\n \n \n \n Defense Metals Closes Private Placement Financing\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 0pt initial; BORDER-RIGHT:black 0pt initial; BORDER-BOTTOM:black 0pt initial; BORDER-LEFT:black 0pt initial\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n April 5, 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 that it has closed a non-brokered private placement (the \"\n \n Private Placement\n \n \") for gross proceeds of\n \n $4,558,049.57\n \n , consisting of 6,340,057 flow-through common shares of the Company (each, a \"\n \n FT Share\n \n \") at a price of\n \n $0.35\n \n per FT Share and 8,996,267 units of the Company (each, a \"\n \n Unit\n \n \") at a price of\n \n $0.26\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 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 $0.40\n \n for a period of 24 months from the date of issuance, provided that if after four months from the date of issue and prior to the expiry of the Warrants, the closing price of the common shares of the Company is equal to or greater than\n \n $0.60\n \n for a period of 15 consecutive trading days, the Company will have the right to accelerate the expiry of the Warrants by giving notice to the holders that the Warrants will expire 15 days from the date of notice.\n \n \n The proceeds of the Private Placement...