Business
Global Minerals Ltd. announces $3,000,000 brokered private placement
TSX Venture Exchange Symbol: CTG Frankfurt Exchange
About this update from District Metals Corp.
[{"type":"text","content":"\n\n\n\nTSX Venture Exchange\n\n\nSymbol: CTG\n\n\nFrankfurt Exchange\n\n\nSymbol: DFP\n\n\nVANCOUVER, Jan. 31 /CNW/ - Global Minerals Ltd. (TSX.V: CTG,\nFRANKFURT:DFP) (the "Company") is pleased to announce that it has negotiated a\nbrokered private placement for gross proceeds of up to $3,000,000 through the\nissuance of 15,000,000 common shares, on a best efforts basis, with Dominick &\nDominick Securities, Inc., of Toronto, Canada (the "Agents"). The financing\nwill consist of the issuance of units ("Units") at $0.20 per common share in\nthe capital stock of the Company. Each Unit will be comprised of one common\nshare (a "Share") and one-half of one common share purchase warrant (a\n"Warrant"), and each Warrant will entitle the holder to purchase one\nadditional common share at the price of $0.30 for a period of 24 months\nfollowing the closing.\n\n\nThe Agents will receive a cash commission on the sale of the Units\nrepresenting 7% of the gross proceeds. The Company will also issue share\npurchase warrants to the Agents on closing (the "Agents' Warrants")\nrepresenting 10% of the number of Units sold under the Offering. Each Agent\nWarrant will entitle the holder thereof to purchase one unit of securities of\nthe Company (an "Agent's Unit") at $0.20 per unit for an 18-month period\nfollowing the closing of the Offering.\n\n\nThe proceeds of the financing will be used by the company for the\ncontinued exploration and development of its Colorado operations and its\nStreiborna high grade Silver mine project and for general working capital.\n\n\nThe financing is subject to acceptance by the TSX Venture Exchange.\n\n\nAbout Global Minerals\n\n\nGlobal Minerals' business model is to acquire attractive, near-term\nproducing assets while continuing to explore for world-class gold and silver\nmineral deposits in geopolitically stable countries.\n\n\nThe company occupies a market niche by focusing on the development of\nadvanced-stage, high grade, mid-tier sized ore bodies. This segment of the\nmining industry has been abandoned by the major mining companies in their\nquest for "World Class" mineral deposits.\n\n\nAbout Dominick & Dominick Securities, Inc.\n\n\nDominick & Dominick Securities, Inc., an affiliate of Dominick & Dominick\nof ...