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Defense Metals Corp. closes $1 million first tranche of private placement & provides video update on flotation pilot plant
Defense Metals Corp. closes $1 million first tranche of private placement & provides v...
About this update from Defense Metals Corp.
[{"type":"text","content":"\n\n\n\nDefense Metals Corp. closes $1 million first tranche of private placement & provides video update on flotation pilot plant\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\nDefense Metals Corp. closes $1 million first tranche of private placement & provides video update on flotation pilot plant\nCanada NewsWire\nVANCOUVER, BC, June 15, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, BC, June 15, 2020 /CNW/ - Defense Metals Corp. (\"Defense Metals\" or the \"Company\") (TSX-V: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce that it has closed the first tranche of a non-brokered private placement (the \"FT Private Placement\") consisting of 3,460,000 flow-through units (the \"FT Units\") at a price of $0.25 per FT Unit for gross proceeds of $865,000. Each FT Unit is comprised of one flow-through share and one common share purchase warrant. Each warrant is exercisable to purchase one common share of the Company at a price of $0.35 per share for a period of twenty-four (24) months from the date of closing the FT Private Placement. The Company also closed the first tranche of a non-brokered private placement (the \"Private Placement\") consisting of 675,000 units (each, a \"Unit\") at a price of $0.20 per Unit for gross proceeds of $135,000. Each Unit is comprised of one common share and one common share purchase 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 twenty-four (24) months from the date of closing the Private Placement.     \nIn connection with the closing of the first tranches of the FT Private Placement and the Private Placement (collectively, the \"First Tranche\"), the Company paid aggregate cash finder's fees of $46,200 and issued 190,050 non-transferable finder warrants to certain brokers. The finder warrants are exercisable for twenty-four (24) months at a price of $0.30 per common share.\nThe securities issued pursua...