FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Defense Metals Announces Closing of CDN$5.0 Million Private Placement Offering with Institutional Investors.”
Defense Metals Corp. (OTCQB: DFMTF) (TSX-V: DEFN) (FSE: 35D) (“Defense Metals” or the “Company”) is pleased to announce that it has closed its previously announced private placement to institutional investors of its common shares (“Common Shares”) and warrants to purchase common shares (“Warrants”) for aggregate gross proceeds to the Company of Cdn$5.0 million (the “Private Placement”). Pursuant to the Private Placement, the Company issued 15,625,000 Common Shares and Warrants to purchase up to 15,625,000 Common Shares at a purchase price of Cdn$0.32 per Common Share and associated Warrant. The Warrants are exercisable at an exercise price of Cdn$0.425 per Common Share at any time on or prior to May 17, 2024.
Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of “GREEN” energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.
For more information, please visit: Defense Metals Corp.
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