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Molten Metals Announces Non-Brokered Private Placement Financing
Vancouver, BC - TheNewswire - May 31, 2023 - Molten Metals Corp. (the “Company”) (CSE:MOLT) (FSE:Y44) (ISIN:CA60872A1066) is pleased to announce a non-brokered
About this update from Molten Metals Corp.
[{"type":"text","content":"Vancouver, BC - TheNewswire - May 31, 2023 - Molten Metals Corp. (the “Company”) (CSE:MOLT) (FSE:Y44) (ISIN:CA60872A1066) is pleased to announce a non-brokered private placement of up to 6,250,000 units (each, a \"Unit\") at a price of $0.08 per Unit for gross proceeds of up to $500,000. Each Unit consists of one common share of the Company, and one common share purchase warrant (each, a \"Warrant\"). Each whole Warrant entitles the holder to acquire an additional common share of the Company at a price of $0.18 per share for 2 years from the date of the closing of the offering (the \"Closing Date\"), provided that if, at any time prior to expiration of the Warrants, the Company’s shares trade on the Canadian Securities Exchange at or above $0.30 per share for a period of 10 consecutive days, the Company may, by issuing a news release or by providing written notice to the Warrant holders, reduce the exercise period to 30 days from the date of such notice. The Company may pay finder's fees in connection with the financing. Securities issued under the financing will be subject to a four month hold period in accordance with applicable Canadian securities laws. The Company intends to use the proceeds for general working capital and for advancing its projects with a particular focus on the Trojarova Antimony-Gold project. Consequently, a significant portion of the capital raised will be used to produce a Preliminary Economic Assessment on Trojarova. The work will be undertaken by DMT and may require a preliminary exploration program, which will include re-opening and expanding the Trojarova adit. Previous exploration programs on Trojarova undertaken in 1992 under the Soviet system suggested that there was 0.831 million tonnes of resource at @5.645%Sb and 0.676g/t Au. The aim of this program would be to substantiate these findings. If successful, Molten Metals would be home to one of the largest undeveloped Antimony mines globally. More Information on the use of funds Part of the funds raised will be used to advance Trojarova. The exploration program for Trojarova will be carried out by DMT Group Natural Resources Consulting Services (Germany) in two Stages: Stage 1 – Data compilation, review and preparation 3D geological and block models of the deposit based on existing historic data These models will be prepar...