Argus Metals Corp.: Announces First Tranche Closing of Private Placement
02.08.2017 | Marketwire
Vancouver, August 2, 2017 - Argus Metals Corp. (the 'Company' or 'Argus') (TSX.V: AML) announces the closing of the first tranche of its previously announced private placement (the 'Private Placement') (see news release dated July 21, 2017) by issuing 1,638,000 units of the Company ('Units') at a price of $0.10 per Unit and 302,981 flow-through common shares of the Company ('Flow-Through Shares') at a price of $0.12 per share. The aggregate gross proceeds raised in this first tranche of the Private Placement total $200,158.Each Unit consists of one common share and one-half of one common share purchase warrant (a 'Warrant') entitling the holder thereof to purchase one additional common share for a period of 24 months from the closing date at a price of $0.15.
In connection with the Private Placement, the Company paid cash commissions totalling of $1,925 and issued 35,000 finder's common shares and 54,250 finder's warrants, each such finder's warrant entitling the holder to acquire one common share of Argus exercisable at $0.15 per share for a period of 2 years from the closing date.
All shares, together with any shares that may be issued on exercise of the Warrants and finder's warrants, will be subject to a hold period under applicable Canadian securities laws expiring on November 29, 2017.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Collins
President and CEO
For further information, please contact:
Argus Metals Corp.
501 - 525 Seymour Street,
Vancouver BC, V6B 3H7
Telephone: (604) 764-7094
Facsimile: (604) 568-7608
Website: www.argusmetalscorp.com
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