Business
Transition Metals Finalizes Options Pricing and Capital Structure
SUDBURY, ON, Aug. 26, 2013 /CNW/ - Project generator Transition Metals Corp. (XTM - TSX.V...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\n\nSUDBURY, ON, Aug. 26, 2013 /CNW/ - Project generator Transition Metals\n Corp. (XTM - TSX.V)  (\"Transition\", \"the Company\"), is pleased to\n announce it has finalized the pricing of its stock options, and\n confirmed its share capital, after completing the plan of arrangement\n (\"Arrangement\") to combine its business with HTX Minerals Corp.\n (\"HTX\"), a privately-held project generator, on August 14, 2013.\n\n\nStock Option Pricing\nThe exercise price of the options is $0.23, and was calculated according\n to TSX Venture Exchange policies as the greater of (1) the five-day\n volume-weighted average closing price of Transition Metals shares\n (August 19-23, 2013) plus a 20% premium, and (2) $0.20.  The options,\n which have been granted to employees, directors and consultants, will\n be exercisable until August 14, 2018, five years from the date of the\n Arrangement.\n\n\nWarrants\nOn August 26th, 2,913,158 warrants expire, out of the money. The remaining 1,116,600\n Transition warrants have an exercise price of $0.20 and an expiry date\n of August 14, 2016.\n\n\nShare Capital\nThe final capital structure of Transition Metals has now been\n established as:\n\n\n\n\n\nCommon Shares Issued \n\n\n25,756,542\n\nOptions\n\n\n1,007,375\n\nWarrants \n\n\n1,116,600\n\nFully diluted \n\n\n27,880,517\n\n\n\n\n\nAbout Transition Metals Corp.\nTransition Metals Corp (XTM -TSX.V) is a Canadian-based, multi-commodity\n project generator that specializes in converting new exploration ideas\n into Canadian discoveries. The award-winning team of geoscientists has\n extensive exploration experience in established, emerging and historic\n mining camps, and actively develops and tests new ideas for discovering\n mineralization in places that others have not looked, which often\n allows the company to acquire properties inexpensively. The team is\n rigorous in its fieldwork, and combines traditional techniques with\n newer ones to help unearth compelling prospects and drill targets.\n Transition uses the project generator business model to acquire and\n advance multiple exploration projects simultaneously, thereby\n maximizing shareholder exposure to discovery and capital gain. Joint\n venture partners earn an interest in the projects by funding a\n significant portion of higher-risk drilling and exploration, al...