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Defense Metals Corp. Announces Over-Subscribed Private Placement
Defense Metals Corp. Announces Over-Subscribed Private Placement Canada NewsWire ...
About this update from Defense Metals Corp.
[{"type":"text","content":"\n\n\n\nDefense Metals Corp. Announces Over-Subscribed Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 14, 2019\n\n\n\nVANCOUVER, June 14, 2019 /CNW/ - Defense Metals Corp. (\"Defense Metals\" or the \"Company\") (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce that further to its news release on May 29, 2019, it has closed an over-subscribed non-brokered private placement of 3,763,333 units (each a \"Unit\") for gross proceeds of $564,500 (the \"Private Placement\"). As previously disclosed, each Unit was priced at $0.15 and is comprised of one common share and one common share purchase warrant (\"Warrant\"). Each Warrant is exercisable to purchase one common share of the Company at a price of $0.30 per share for a period of 12 months from the date of closing the Private Placement.   \nThe Company also announces that it has closed an over-subscribed non-brokered private placement of 2,662,500 flow-through common shares (\"FT Shares\") at a price of $0.20 per FT Share for gross proceeds of $532,500 (the \"FT Private Placement\").                                                         \nThe Company paid cash finder's fees of $30,030 and issued 168,699 non-transferable finder warrants to eligible finders on a portion of the private placements. The finder warrants otherwise have the same terms as the Warrants.\nOne director of the Company participated in the Private Placement and the FT Private Placement.  Participation of an insider of the Company in the private placements constitutes a \"related party transaction\" as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). Because the Company's shares trade on...