Business
Namibia Critical Metals Announces CDN$500,000 Private Placement and Appointment of New CFO
HALIFAX, NS / ACCESSWIRE / March 3, 2021 / Namibia Critical Metals Inc. ("Namibia Critical M...
About this update from Namibia Critical Metals Inc.
[{"type":"text","content":"Namibia Critical Metals Announces CDN$500,000 Private Placement and Appointment of New CFOHALIFAX, NS / ACCESSWIRE / March 3, 2021 / Namibia Critical Metals Inc. (\"Namibia Critical Metals\" or the \"Company\") (TSXV:NMI) today announced it intends to complete a non-brokered private placement in the amount of up to $500,000 consisting of units offered at a price of $0.25 per unit (\"Private Placement\") representing a 11% discount to the closing price of the common shares of the Company on March 1, 2021. Each unit will consist of one common share and one warrant. Each whole warrant will be exercisable for one common share at a price of $0.35 for a period of 12 months. A maximum of 4,000,000 common shares of Namibia Critical Metals will be issued pursuant to the Private Placement (assuming full exercise of all warrants). The Private Placement is subject to the approval of the TSX Venture Exchange (\"TSXV\").The proceeds of the Private Placement will be used primarily to fund gold exploration and general corporate purposes. The common shares and warrants of the Company issued pursuant to the Private Placement will be subject to a four-month hold period.The Company also announced today that Susanne Willett will assume the position of Chief Financial Officer of the Company on April 1, 2021 when Darrin Campbell, the current CFO, assumes the role of President as announced in the Company's press release of February 1, 2021. Ms. Willett also currently serves as CFO for Morien Resources Corp. (TSXV:MOX). Previously Ms. Willett worked for the New Brunswick Power group of companies as Business Unit CFO, Director of Financial Planning and Treasury, and Controller, where she directed business planning, regulatory compliance, management and financial reporting. Ms. Willett holds a Bachelor of Commerce degree from Dalhousie University in Halifax, Nova Scotia, a Master of Business Administration from York University in Toronto, Ontario, and qualified as a CPA, CA.About Namibia Critical Metals Inc.Namibia Critical Metals holds a diversified portfolio of exploration and advanced stage projects in the country of Namibia focused on the development of sustainable and ethical sources of metals for the battery, electric vehicle and associated industries. The Company also has significant land positions in areas favourable for gold mineralization.The Lo...