Thunder Bay, Ontario, August 17, 2020: White Metal Resources Corp. (TSXV:WHM) (“White Metal” or the “Company”) is pleased to announce that, subject to final regulatory approval, the Company has completed a non-brokered private placement of flow-through and non flow-through units (the “Private Placement”).
The Company raised gross proceeds totalling $1,225,250 by issuing a combination of flow-through and non flow-through units. On receipt of regulatory approval, the Company will issue 2,753,571 flow-through units at a price of $0.07 per unit, each unit consisting of one flow-through common share and one-half of one common share purchase warrant, each full warrant entitling the holder thereof to purchase an additional common share of the Company at a price of $0.10 for a period of 24 months following the date of issuance. The flow-through shares will entitle the holder to receive the tax benefits applicable in accordance with provisions of the Income Tax Act (Canada).
The Company raised gross proceeds totalling $1,225,250 by issuing a combination of flow-through and non flow-through units. On receipt of regulatory approval, the Company will issue 2,753,571 flow-through units at a price of $0.07 per unit, each unit consisting of one flow-through common share and one-half of one common share purchase warrant, each full warrant entitling the holder thereof to purchase an additional common share of the Company at a price of $0.10 for a period of 24 months following the date of issuance. The flow-through shares will entitle the holder to receive the tax benefits applicable in accordance with provisions of the Income Tax Act (Canada).
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