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POWER METALS ANNOUNCES $6.5 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
POWER METALS ANNOUNCES $6.5 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH SHARES Canada New...
About this update from Power Metals Corp.
[{"type":"text","content":"\n \n \n \n POWER METALS ANNOUNCES $6.5 MILLION PRIVATE PLACEMENT OF FLOW-THROUGH SHARES\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n WINSOME TO INCREASE ITS\n \n \n INTEREST IN POWER METALS TO OVER 10%\n \n \n \n \n WARATAH CAPITAL ADVISORS TO INVEST\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 6, 2023\n \n \n /CNW/ -\n \n Power Metals Corp. (\n \n \"\n \n Power Metals\n \n \" or the \"\n \n Company\n \n \"\n \n )\n \n (TSXV: PWM) (FRANKFURT: OAA1) (OTCQB: PWRMF) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. (the \"\n \n Agent\n \n \") in connection with a \"best efforts\" private placement of 11,325,000 common shares of the Company that will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (\n \n Canada\n \n )) (the \"\n \n Flow-Through Shares\n \n \"). The Flow-Through Shares will be issued at a price of\n \n $0.57\n \n per Flow-Through Share (the \"\n \n Offering Price\n \n \") for aggregate gross proceeds of up to\n \n $6.5 million\n \n (the \"\n \n Offering\n \n \").\n \n \n The Agent will have an option (the \"\n \n Agent's Option\n \n \") to increase the size of the Offering by up to\n \n $1.0 million\n \n through the sale of 1,698,750 additional Flow-Through Shares at the Offering Price, which Agent's Option is exercisable, in whole or in part, at any time up to 48 hours prior to the Closing Date (defined herein).\n \n \n Winsome Resources Limited (\"\n \n Winsome\n \n \") have indicated their intention to participate in the Offering to increase its share ownership in Power Metals from 5.6% to approximately 10.0% based on basic shares outstanding (assuming the exercise in full of the Agent's Option).\n \n \n Also, Waratah Capital Advisors Ltd. (\"\n \n Waratah\n \n \"), through Waratah's Electrification and Decarbonization AIE LP Fun...