Vancouver, April 1, 2019 - Affinity Metals Corp. (TSXV: AFF) ("the Corporation") ("Affinity") is pleased to announce that it has closed the fully subscribed private placement ("the Offering") that was announced on March 22, 2019. A total of 2,000,000 units ("Units") were sold at a price of $0.10 per Unit for gross proceeds of $200,000.
Each Unit consists of one common share of the Corporation ("Common Share") and one half of one non-transferrable Common Share purchase warrant ("Warrant"). Each whole Warrant may be exercised for one additional Common Share at a price of $0.15 for a period of 12 months from the closing date of the Offering.
The securities were issued to qualified purchasers in reliance upon exemptions from prospectus and registration requirements of applicable securities legislation.
All securities issued in this Offering are subject to a four month hold period. Insiders purchased 500,000 Units of the Offering. A finder's fee of $6,000 cash and 60,000 shares was paid to an arm's length finder in relation to this offering. Proceeds will be used for general operating purposes including mineral property acquisitions.
This private placement closing is subject to approval by the TSX Venture Exchange.
About Affinity Metals
Affinity is a Canadian mineral exploration company building a strong portfolio of mineral projects in North America. The Corporation's flagship property is the Regal polymetallic property located near Revelstoke, BC.
On behalf of the Board of Directors
Robert Edwards, CEO and Director of Affinity Metals Corp. redwards@affinity-metals.com
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 the source version of this press release, please visit https://www.newsfilecorp.com/release/43807
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