Business
Full Metal Minerals Announces $10 Million Bought Deal Financing
Full Metal Minerals Announces $10 Million Bought Deal Financing.
About this update from Full Metal Minerals Ltd. Class A
[{"type":"text","content":"\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES/\n\n\nVANCOUVER, Oct. 12 /CNW/ - Full Metal Minerals Ltd. (FMM-TSX:V) is\npleased to announce a bought deal private placement with a syndicate of\nunderwriters led by Canaccord Capital Corporation ("Canaccord") and including\nRaymond James Ltd. (the "Underwriters") of 4,000,000 Units (the "Units") at a\nprice of $2.50 per Unit for gross proceeds of $10,000,000 (the "Offering"). A\nUnit will consist of one common share and one-half of one common share\npurchase warrant (a "Warrant"). Each whole warrant will entitle the holder to\nsubscribe for one additional common share at a price of $3.00 for a period of\n24 months from the date of closing.\n\n\nAs consideration for acting as Underwriters, Canaccord and Raymond James\nLtd. will be paid a commission of 7.5% of the total proceed raised upon\nclosing and issue underwriters' warrants ("Underwriters' Warrants") equal to\n10% of the Units issued pursuant to this Offering. Each Underwriters' Warrant\nwill be exercisable to acquire one common share at $2.50 expiring 24 months\nafter the closing date.\n\n\nThe Company has also granted the Underwriters an over-allotment option to\nincrease the offering by up to 600,000 Units, exerciseable 48 hours prior to\nclosing.\n\n\nThe Company may also sell on a non-brokered private placement basis up to\n$3,000,000 of Units having the same terms as the above.\n\n\nThe Company intends to use the net proceeds from the offering to advance\nthe Company's exploration properties and for general working capital purposes.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\n"Michael Williams"\n\n\nMichael Williams\n\n\nPresident and Director\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\n\n\nor accuracy of this release.\n\n\n","length":1971,"tagName":"div"}]