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$1.2 Million Dollar Placement Oversubscribed, Placement Increased to $1.5M Advancing North Americas Largest Undeveloped Primary, Platinum Group Metals Project (PGM), River Valley PGM Project, to its First Economic Study
(via TheNewswire) Vancouver, BC, Canada / TheNewswire / June 19, 2018 - New Age Metals...
About this update from New Age Metals Inc
[{"type":"text","content":"$1.2 Million Dollar Placement Oversubscribed, Placement Increased to $1.5M Advancing North Americas Largest Undeveloped Primary, Platinum Group Metals Project (PGM), River Valley PGM Project, to its First Economic Study(via TheNewswire)\n \n\n-On May 7th, 2018, New Age Metals (NAM) announced a non-brokered private placement (PP).\n\n\n\n-The original placement was set for $1.2 Million dollars which is now oversubscribed.\n\n\n\n-Management of NAM closed on $920,550 on the first tranche of this PP. The company has since raised an additional $326,027 in the second tranche, for a total of $1,246,577.\n\n\n\n-The Non-Flow-through units consisted of one common share and one half of one two year non-transferable share purchase warrant. These warrants are subject to an acceleration clause.\n\n\n\n-The Flow-through units consisted of one flow-through share and one half of one two year non-transferable share purchase warrant. These warrants are subject to an acceleration clause.\n\n\n\n-The proceeds of the private placement will be used for working capital and for the acquisition and exploration of Platinum Group Metals (PGM), Lithium and Rare Earth Metals. The proceeds will also be used for funding a Preliminary Economic Assessment (PEA) on the Company's 100% owned River Valley PGM Project and River Valley Extension project near Sudbury Ontario. The River Valley PGM Project is the largest undeveloped primary PGM project in North America and this PEA will be the Projects first economic study.\n\n\n\n-NAM is a Project Generator with a diversified Green Metals portfolio. It has two divisions, Canada Lithium Development its wholly owned sub., and the River Valley and Genesis Projects which are two flagship projects in its growing PGM division. For further information please visit: www.newagemetals.com. \n\n\n\n \nVancouver, BC, Canada / TheNewswire / June 19, 2018 - New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) is pleased to announce that further to its news release of May 7, 2018 and May 23, 2018, the Company has oversubscribed the current placement, extended the closing date an additional 30 days, and has increased the private placement from $1,200,000 to $1,500,000. \n\n \n \nHarry Barr, NAM's Chairman & CEO stated: \"On behalf of our current shareholders, the Board of Directors, our Advisory Board, our Management Team, ...