BTU Announces Private Placement Financing
Vancouver, British Columbia (FSCwire) - BTU Metals Corp. (“BTU” or the “Company”) (BTU-TSX-V) announces the Company has arranged a non-brokered private placement of up to 6,000,000 units (the "Units") at a price of $0.12 per Unit for an aggregate gross proceeds of $720,000 (the "Offering").
Each Unit is comprised of one common share (a "Share") and one half of one Share purchase warrant (a "Warrant") of the Company. Each full Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.18 per Warrant Share for an 18 month period after the Closing Date. The warrants are subject to an acceleration clause, which states that the issuer will have the right to accelerate the expiry date of the warrants if, at any time, the average closing price of the shares is equal to or greater than 30 cents for 10 consecutive trading days. In the event of acceleration, the expiry date will be accelerated to a date that is 30 days after the issuer issues a news release, announcing that it has elected to exercise this acceleration right.
The Company may, in its sole discretion, pay finders' fees to agents of the Company.
The proceeds raised will be used for general corporate purposes and for advancing the Company’s 16,640 hectare Galway Gold Project located in County Galway, Republic of Ireland.
BTU Metals Corp. is a junior exploration company actively seeking mineral opportunities for the benefit of all its stakeholders. For further information we invite you to visit us at http://www.btumetals.com/BTU-Pres-Aug.pdf.
ON BEHALF OF THE BOARD
“Paul Wood”
Paul Wood, CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/btumetals09142017.pdf
Source: BTU Metals Corp. (TSX Venture:BTU)
To follow BTU Metals Corp. on your favorite social media platform or financial websites, please click on the icons below.
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Copyright © 2017 Filing Services Canada Inc.
