Business
Transition Metals Corp. Announces up to $1.1 Million Private Placement
Transition Metals Corp. Announces up to $1.1 Million Private Placement Canada News...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\n\n\nTransition Metals Corp. Announces up to $1.1 Million Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nSUDBURY, ON, Nov. 27, 2017\n\n\n\nSUDBURY, ON, Nov. 27, 2017 /CNW/ - Transition Metals Corp. (XTM – TSX.V) (\"Transition\" or \"the Corporation\") is pleased to announce that it intends to raise up to $1,100,000 by way of a non‑brokered private placement financing consisting of up to 7,333,333 units (the \"Units\") at a price of $0.15 per Unit, for gross proceeds of up to $1,100,000.  Each Unit will consist of one common share of the Corporation (each, a \"Common Share\") and one transferable share purchase warrant (each, a \"Warrant\").  Each Warrant will entitle the holder to purchase one additional Common Share for a period of 24 months from closing at a price of $0.20.  If, commencing on the date that is four months after the closing date, the closing price of the Common Shares on the TSX Venture Exchange (the \"Exchange\") is higher than $0.30 for 20 consecutive trading days, based on the Volume Weighted Average Price on daily closing, then on the date that is the 20th consecutive trading day (the \"Acceleration Trigger Date\") the expiry date of the Warrants will be accelerated to the date that is 20 business days after the Acceleration Trigger Date provided the Corporation, within three trading days of the Acceleration Trigger Date, issues a news release announcing the acceleration of the expiry date and delivers or sends by electronic transmission a copy of such news release to the Warrant holders and the finders.\n\nA finder's fee may be paid in connection with the placement to finders, including affiliates of Sprott Inc., as determined by mutual agreement between the Corporation and the finders and subject to regulatory approval.  The finders' fee will consist of cash or Units, at the election of each finder, equal to 6% of the Units sold to investors introduced by such finder, and non‑transferable share purchase warrants equal to 6% of such Units sold ...