BTU Metals Corp: Closes Financing
VANCOUVER, March 29, 2019 - BTU Metals Corp. ("BTU" or the "Company") (BTU-TSX-V) is pleased to announce that further to its press release dated March 14th, 2019 the Company has closed the non-brokered private placement. The total raised in the financing issuing 9,000,000 units (the "Units") at a price of $0.10 per Unit for aggregate gross proceeds of $900,000.00. 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 $0.15 per Warrant Share for a 24 month period after the Closing Date. Finders' fees of $20,320.00 and 203,200 broker warrants were paid to arm's length parties. The shares and warrants comprising the units are subject to a 4 month hold period expiring July 30th, 2019.
Proceeds raised will be used for general corporate purposes and for advancing the Company's Dixie Halo Property in Red Lake, Ontario.
Michael England, President, 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.
SOURCE: BTU Metals Corp.