Transition Metals Corp (TSX-V:XTM). said it intends to raise at least $500,000 and up to an aggregate of $1,000,000 through of a non brokered private placement.
The offering will consist of up to 4,000,000 flow through units at f $0.10 each, for proceeds of up to $400,000; up to 3,424,658 charity flow through units at a price of $0.1168 each for proceeds of up to $400,000; and 2,500,000 hard dollar units at a price of $0.08 each for proceed of up to $200,000.
All units consist of a common share and a half warrant. Each full warrant entitles the investor to purchase a common share at anytime for $0.15 for a period of two years.
Proceeds will be used to explore and advance critical minerals properties in Ontario and the Yukon, the explorer said in a statement.
Sudbury, Ontario-based Transition Metals is a multi-commodity project generator focused on the discovery of ore deposits in Canada.
Contact the author at jon.hopkins@proactiveinvestors.com