Full Metal Announces Private Placement Financing
Vancouver, BC – Full Metal Minerals Ltd. (FMM-TSX:V) (the “Company”) announces a non-brokered private placement, subject to regulatory approval, of up to 5,400,000 units at a price of $.75 per unit.
Each unit will consist of one common share and one-half of one transferable share purchase warrant. Each whole warrant will entitle the holder to acquire one additional common share exercisable for a period of two year following the closing of the private placement at a price of $1.00 per common share.
A finder’s fee of 8% of the gross proceeds may be payable in cash or shares on a portion of the financing. The net proceeds from the financing will be used for exploration expenses on the Company’s projects and for general working capital.
Full Metal is a generative exploration company with multiple precious and base metal projects in Alaska and the Yukon. Drilling and underground development is currently underway at the high-grade Lucky Shot Gold Project. The Company has Exploration Agreements with Kinross Gold, Freeport-McMoRan Exploration Corporation, BHP Billiton, New Gold, Triex Minerals, Altair Ventures, Highbury Projects, and Ashburton Ventures Inc.
ON BEHALF OF THE BOARD OF DIRECTORS
President and Director
Contact: Jeff Sundar
Vice-President, Investor Relations
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.