Philippine Metals Announces Increase to Private Placement
Vancouver, July 26, 2018 - Philippine Metals Inc. (TSXV: PHI) ("PMI" or the "Company") has, subject to TSX-V Exchange approval, increased the non-brokered private placement, previously announced in the Company's July 19, 2018 press release, from up to 2,000,000 Units at $0.05 per Unit to up to 3,000,000 Units for gross proceeds of $150,000. The amended private placement will consist of 3,000,000 Units at a price of $0.05 per Unit for gross proceeds of up to $150,000. Each Unit will include one common share of the Company and one half of one transferable common share purchase warrant (each full warrant, a "Warrant"). Each Warrant will entitle the holder to acquire a common share at a price of $0.10 for a period of 24 months.
The net proceeds of the private placement will be used for general working capital purposes.
The transaction contemplated herein may be subject to, among other things, the approval of the TSX Venture Exchange and certain other regulatory agencies.
ON BEHALF OF THE BOARD
"Craig T. Lindsay"
Chief Executive Officer
For additional information, please contact:
Craig Lindsay
Tel: (604) 683-2507
Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act") or any State securities laws, and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable State securities laws, or an exemption from such registration is available.