Original News Release
Molten Metals closes $300,000 private placement
Mr. Rishi Kwatra reports
MOLTEN METALS ANNOUNCES CLOSE OF $300,000 FLOW-THROUGH OFFERING
Molten Metals Corp. has closed its previously announced non-brokered private placement of flow-through units for aggregate gross proceeds of $300,000.
Pursuant to the offering, the company issued an aggregate of 600,000 FT units at a price of 50 cents per FT unit. Each FT unit is composed of one common share of the company issued on a flow-through basis and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share of the company at an exercise price of 60 cents per share for a period of 24 months from the date of issuance.
In connection with the offering, the company paid eligible finders' fees consisting of an aggregate of $21,000 in cash fees and 42,000 finders' warrants, in accordance with applicable securities laws and Canadian Securities Exchange policies. Each finder's warrant is exercisable on the same terms as the warrants issued pursuant to the offering.
The gross proceeds from the sale of the flow-through shares will be used by the company to incur eligible Canadian exploration expenses that will qualify as flow-through mining expenditures as such terms are defined in the Income Tax Act (Canada), which expenditures will be renounced to subscribers with an effective date no later than Dec. 31, 2025.
All securities issued pursuant to the offering are subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws. The offering is subject to all required regulatory approvals, including approval of the Canadian Securities Exchange.
About Molten Metals Corp.
Molten is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high upside and expansion potential.
We seek Safe Harbor.
View at source ↗