Mr. Todd Hanas reports
DEFENSE METALS CORP. CLOSES PRIVATE PLACEMENT
Defense Metals Corp., on Jan. 8, 2021, closed a non-brokered private placement of one million units. The private placement was completed at a price of 20 cents per unit for gross proceeds of $200,000. Each unit comprises one common share and one transferable common share purchase warrant. Each warrant is exercisable to purchase one common share of the company at a price of 30 cents per share for a period of 12 months from the date of closing the private placement.
All securities issued pursuant to the private placement are subject to a four-month hold period from the closing date in accordance with applicable securities laws. The proceeds from the private placement will be used for working capital and work on the company's Wicheeda rare-earth-element project located in Prince George, B.C.
About Defense Metals Corp.
Defense Metals 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 per cent of the 1,708-hectare Wicheeda rare-earth-element property located near Prince George, B.C., Canada. Defense Metals 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.
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