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Defense Metals Corp. Announces Private Placement and Grants Stock Options
Defense Metals Corp. Announces Private Placement and Grants Stock Options Canada N...
About this update from Defense Metals Corp.
[{"type":"text","content":"\n\n\n\nDefense Metals Corp. Announces Private Placement and Grants Stock Options\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\n\n\nCanada NewsWire\nVANCOUVER, May 29, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n VANCOUVER, May 29, 2019 /CNW/ - Defense Metals Corp. (\"Defense Metals\" or the \"Company\") (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce that it intends to complete a non-brokered private placement of up to 3,333,334 units (each a \"Unit\") at a price of $0.15 per Unit for gross proceeds of up to $500,000. Each Unit will be comprised of one common share and one common share purchase warrant (each a \"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 of the private placement.\n\n \n \n\n \nThe Company also announces that it intends to complete a non-brokered private placement of up to 2,500,000 flow-through common shares (\"FT Shares\") at a price of $0.20 per FT Share for gross proceeds of up to $500,000. \nThe private placements are subject to TSX Venture Exchange approval and all securities are subject to a four month hold period. Finder's fees will be payable in connection with the private placements, all in accordance with the policies of the TSX Venture Exchange and applicable securities laws.\nThe proceeds from these private placements will be used for exploration on the Company's Wicheeda rare earth element project located in Prince George, British Columbia and for general working capital purposes.\nThe Company also announces the granting of incentive stock options (\"Options\") to certain of its directors, officers and consultants to purchase up to an aggregate 400,000 common shares of the Company at a price of $0.20 per common share for a period of five (5) years, subject to regulatory and TSX Venture Exchange approval. 100,000 Op...