Metalsource arranges $7.53-million private placement

Executive Summary

• Metalsource Mining Inc. has arranged a non-brokered private placement financing of up to 10.05 million units at a price of $0.75 per unit.
• The offering is expected to generate gross proceeds of up to $7,537,500 and will have a sole placee.
• Each unit includes one common share and one-half of one transferable common share purchase warrant, exercisable at $1.00 per share for three years.

Key Details

• Transaction Structure: Non-brokered private placement.
• Units Offered: Up to 10,050,000 units.
• Price Per Unit: $0.75 CAD.
• Gross Proceeds: Up to $7,537,500.
• Placee: One sole placee.
• Warrant Terms: Each unit includes one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share.
• Warrant Exercise Price: $1.00 per common share.
• Warrant Term: Three years from the date of issuance.
• Regulatory Status: Subject to receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange.
• Hold Periods: All securities are subject to applicable statutory hold periods in accordance with Canadian securities laws.