Business
White Metal Announces Private Placement Financing
Thunder Bay, Ontario--(Newsfile Corp. - November 24, 2021) - White Metal Resources Corp. (TSX...
About this update from Thunder Gold Corp.
[{"type":"text","content":"White Metal Announces Private Placement FinancingThunder Bay, Ontario--(Newsfile Corp. - November 24, 2021) - White Metal Resources Corp. (TSXV: WHM) (FSE: CGK1) (OTC PINK: TNMLF) (\"White Metal\" or the \"Company\") is pleased to announce that, subject to all regulatory approvals, the Company intends to complete a non-brokered private placement of flow-through shares and non flow-through units (the \"Private Placement\") for combined aggregate gross proceeds of up to $600,000. The Private Placement is expected to close on or before December 15, 2021.The Company intends to issue up to 5,000,000 flow-through shares (\"FT Shares\") at a price of $0.10 per FT Share, for gross proceeds of $500,000. The flow-through shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada). The Company also intends to issue up to 1,111,111 non flow-through units (\"Units\") at a price of $0.09 per Unit for gross proceeds of up to $100,000. Each Unit will consist of one common share and one half (1/2) of a common share purchase warrant, each full warrant being exercisable for an additional common share of the Company for $0.18 for 24 months from the date of issue. The securities issued pursuant to the Private Placement are subject to a hold period of four months and one day in accordance with applicable securities laws.In connection with the private placement, the Company may pay finders' fees in cash or securities or a combination of both, as permitted by the policies of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four month and one day hold period. The private placement is subject to approval by the TSX Venture Exchange. The proceeds of the financing will be used to advance White Metal's various exploration projects, and for working capital purposes.About White Metal Resources Corp.:White Metal Resources Corp. is a junior exploration company exploring in Canada and southern Africa. The Company's two key properties are the Flagship Tower Mountain Gold Project in Thunder Bay, Ontario, Canada and the Okohongo Copper-Silver Project in Namibia, Africa. For more information about the Company please visit www.whitemetalres.com.On behalf of the Board of Directors\"Michael Stares\"President & CEOFor f...