Business
Transition Metals Corp. Closes First Tranche of Private Placement
Transition Metals Corp. Closes First Tranche of Private Placement Canada NewsWire ...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\n\n\nTransition Metals Corp. Closes First Tranche of 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, Dec. 7, 2017\n\n\n\n/THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS./\n\n\n\nSUDBURY, ON, Dec. 7, 2017 /CNW/ - Transition Metals Corp. (XTM – TSX.V) (\"Transition\" or \"the Corporation\") announces that it has closed the first tranche of the previously announced non‑brokered private placement financing of 4,071,031 units (the \"Units\") of the Corporation at a price of $0.15 per Unit, for gross proceeds of $610,654.65.  Each Unit consisted of one common share of the Corporation (a \"Common Share\") and one transferable share purchase warrant (each, a \"Warrant\").  Each Warrant entitles the holder to purchase one additional Common Share for a period of 24 months from closing at a price of $0.20.  If, after 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\nThe ...