Reno, Nevada US, March 14, 2013 /FSC/ - EMC Metals Corp. (EMC - TSX), announces it has completed the previously announced private placement (see February 4, 2013 news release) of convertible debentures for gross proceeds of USD$650,000. The convertible debentures are convertible into common shares of the Company at a price of USD$0.05 per share for a period of 12 months from the closing date, and bear interest at the rate of 10% per annum.
The principal amount of the convertible debentures is secured by a pledge of the shares of the Company's wholly-owned subsidiary, Wolfram Jack Mining Corp., and an assignment of the Company's interest in the Tordal and Hogtuva properties located in Norway.
All securities issued under the private placement are subject to a Canadian hold periods expiring four months after the closing date. The securities are also subject to restrictions on resale under U.S. federal securities laws.
For additional information please contact:
EMC Metals Corp. Investor Relations-Nevada: (775) 355-9500 or info@emcmetals.com, or Sara Boatright Patterson, Windward Global, Charlotte, NC -1-704-588-8600
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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Reno, Nevada US, March 14, 2013 /FSC/ - EMC Metals Corp. (EMC - TSX), announces it has completed the previously announced private placement (see February 4, 2013 news release) of convertible debentures for gross proceeds of USD$650,000. The convertible debentures are convertible into common shares of the Company at a price of USD$0.05 per share for a period of 12 months from the closing date, and bear interest at the rate of 10% per annum.
