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CMC Metals Ltd. Announces Closing and Increase in 1,568,000 Unit Private Placement @ $0.15
CMC Metals Ltd. Announces Closing and Increase in 1,568,000 Unit Private Placement @ $0.15
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"\nCMC Metals Ltd. Announces Closing and Increase in 1,568,000 Unit Private Placement @ $0.15\n\n\n Oct. 28, 2010 (TheNewswire.ca) -- Vancouver, B.C.: CMC Metals Ltd. (OOTC:CMCXF) (TSXV:CMB) (the \"Company\") wishes to announce that it has closed its private placement at $0.15 per Unit as originally announced on September 24, 2010, as amended by press release dated October 25, 2010. This placement has been oversubscribed and increased from 1,568,000 Units to 1,868,000 Units, raising gross proceeds of approximately $280,200. Upon receipt of final TSX Exchange approval, the Company will issue 1,868,000 common shares to its placees at $0.15 per share and issue Warrant Certificates for 1,868,000 Warrant Shares. The terms of the exercise of the Share Purchase Warrants are one common share is to be issued upon the surrender of every one Warrant at $0.20 per share for a twelve month period, resulting in the further issuance of 1,868,000 common shares should all the Warrant Shares be exercised. The Warrants issued pursuant to this placement are transferable. The proceeds of the $280,200 raised will be used for general working capital. The value of the finder's fees payable is $7,603.50, representing approximately 2.7% of the total gross proceeds raised.This news release was prepared on behalf of the Board of Directors, which accepts full responsibility for its contents.On behalf of the Board:\"Michael C. Scholz\"Michael C. ScholzCFOCMC METALS LTD.For further information on the Company, please contact Mr. Gord Zelko, VP Business Relations at MineralStocks Consulting Services. Telephone: 250-495-7123, or Email: [email protected] 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.Copyright (c) 2010 Thenewswire.ca - All rights reserved.\n\n\n \n","length":2220,"tagName":"div"}]