Business
Closing of 15,500,000 Unit Private Placement at $0.10 per Unit & Granting of Incentive Stock Options
(via Thenewswire.ca) Vancouver, B.C. / TheNewswire / June 16, 2016 - CMC Metals Ltd. (...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"Closing of 15,500,000 Unit Private Placement at $0.10 per Unit & Granting of Incentive Stock Options(via Thenewswire.ca)\n \n \nVancouver, B.C. / TheNewswire / June 16, 2016 - CMC Metals Ltd. (the \"Company\") wishes to advise the closing of its 15,500,000 Unit private placement at $0.10 per Unit, originally announced in its February 10, 2016 press release, as revised in its May 2, 2016 press release, and the issuance of 11,200,000 of the total 15,500,000 Units on May 5, 2016 and the remaining 4,300,000 Units on June 15, 2016, with each Unit consisting of one common share and one transferrable share purchase warrant, with every two warrants exercisable for one additional common share of the Company at $0.12 per share for a two year period (the \"Units\"). The proceeds derived from the 15,500,000 Unit placement will be used towards our ongoing costs associated with the further development of the Company's Bishop Mill and Radcliff Property projects held in the US. A finder's fee is payable pursuant to this placement by way of cash and broker's warrants equal to 8% of the total raised by the finder, being a total of $65,960 in cash and 659,600 in broker's warrants issued on the same terms and conditional as the Units.\n\n\n \nThe Company further wishes to announce that it has granted 2,900,000 common shares pursuant to incentive stock options under the Company's Rolling Stock Option Plan, which Plan received shareholder approval at its last Annual General Meeting held June 18, 2015. The options granted will be set for a two year period expiring June 16, 2018 at the exercise price of $0.12 per share. This transaction is subject to TSX Venture Exchange approval.\n\n \n \n On behalf of the Board:\n\n \n \n \"Jack Bal\"\n\n\n \n __ \n\n\n \nJack Bal, President & CEO\n\n\n \nCMC METALS LTD.\n\n \n \nFor further information on the Company, please contact Mr. Jack Bal, CEO, Telephone: 604-306-5285 [email protected]. \n\n \n \nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\n\n \n \n\"This news release includes certain statements that constitute \"forward-looking information\" within the meaning of applicable securities law, including without limitation, statements that addr...