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Full Metal Minerals Announces TSXV Approval of the Private Placement, Closing of Shares for Debt Transaction and Fundamental Acquisition, Resumption of Trading and Provides Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - April 29, 2021) - Full Metal Minerals Ltd. (TS...
About this update from Full Metal Minerals Ltd. Class A
[{"type":"text","content":"Full Metal Minerals Announces TSXV Approval of the Private Placement, Closing of Shares for Debt Transaction and Fundamental Acquisition, Resumption of Trading and Provides Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - April 29, 2021) - Full Metal Minerals Ltd. (TSXV: FMM) (\"Full Metal\" or the \"Company\") is pleased to announce that the TSX Venture Exchange (the \"TSXV\") has provided the Company with final approval of: (i) its previously announced non-brokered private placements that closed in two tranches on March 9 and March 22, 2021 (see press releases disseminated on April 20, 2018, October 8, 2020, December 24, 2020, March 9, 2021 and March 22, 2021 for further details) (the \"Private Placements\"); (ii) the option letter agreement dated February 25, 2020, as amended July 30, 2020, August 28, 2020, December 15, 2020, February 1, 2021 and March 12, 2021 (the \"Option Agreement\"), between the Company and GSP Resource Corp.'s (\"GSPR\") pursuant to which the Company acquired an option to earn a 60% interest in GSPR's Olivine Mountain property (the \"Property\") in the Similkameen Mining Division, British Columbia (press releases disseminated February 26, 2020, July 31, 2020, October 8, 2020, December 24, 2020, February 18, 2021 and March 22, 2021 for further details) (the \"Fundamental Acquisition\"); and (iii) the issuance of up to 30,056,528 common shares of the Company (\"Shares\") at a deemed price of $0.08 per Share to settle certain outstanding accounts payable and contingent liabilities in the aggregate amount of $2,404,522.37 owing to certain creditors (press release disseminated December 24, 2020 for further details) (the \"Shares for Debt Transaction\").Resumption of TradingAs a result of the TSXV's approval of the Fundamental Acquisition, the Private Placements and the Shares for Debt Transaction, the Company confirms that previous deficiencies with the Company's Tier 2 Continued Listing Requirements (as such term is defined under TSXV policies) reflected in the Company's most recent financial statements have been remedied in accordance with Section 2.1 of TSXV Policy 2.5. Effective at market open, Friday, April 30, 2021, the Company is pleased to announce that the securities of Company will resume trading on the TSXV.Fundamental AcquisitionPursuant to the Option Agreement, as consideration for...