08:30:44 EDT Tue 24 May 2022
Enter Symbol
or Name
USA
CA



White Metal Resources Corp
Symbol WHM
Shares Issued 97,893,211
Close 2021-02-05 C$ 0.12
Recent Sedar Documents

White Metal increases financing to $2.21-million

2021-02-05 15:53 ET - News Release

Mr. Michael Stares reports

WHITE METAL ANNOUNCES INCREASE TO PRIVATE PLACEMENT FINANCING

Further to White Metal Resources Corp.'s Jan. 18, 2021, news release, the company has increased its private placement financing from $2-million to up to $2,213,000.

On receipt of all regulatory approvals, the company intends to issue up to 4,715,385 flow-through units at a price of 13 cents per flow-through unit, each consisting of one flow-through common share of the company and one common share purchase warrant, with each warrant entitling the holder to acquire an additional common share of the company at 20 cents for a period of 24 months from the date of issue, and up to 17,777,778 non-flow-through units at a price of nine cents per unit, each consisting of one common share of the company and one common share purchase warrant, with each warrant entitling the holder to acquire an additional common share of the company at 20 cents for 24 months from the date of issue, for aggregate gross proceeds of $2,213,000. The flow-through shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with provisions of the Income Tax Act (Canada).

Finders' fees may apply to this private placement and all securities issued will be subject to a four-month hold period.

Proceeds of the financing will be used to advance the company's Tower Stock gold property and for working capital purposes.

About White Metal Resources Corp.

White Metal Resources is a junior exploration company exploring in Canada.

© 2022 Canjex Publishing Ltd. All rights reserved.