Each Unit consists of one common share and one-half of one common share purchase warrant ('Warrant'). Each whole Warrant entitles the holder to purchase one common share of the Company for a period of 24 months from the closing date at a price of $0.15 per share.
No finder's fees were paid in connection with the private placement closing.
The securities issued in relation to this private placement are subject to regulatory four-month hold period expiring December 18, 2016, and December 24, 2016.
'Argus has focused on conserving cash and share capital for the past three years. It is clear that the public market is once again rewarding exploration and development success and so Argus is excited to close this financing and move aggressively to develop Ike and potentially other projects,' says President and CEO Michel Collins, 'With only 8.8 million shares issued and outstanding pending the 2nd tranche close, Argus is well placed to take advantage of a focused board and management and a receptive market.
Proceeds from the private placement will be used to continue exploration on the Company's Ike Exploration Project and for general working capital purposes and project generation.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Collins
President and CEO
For further information, please contact:
Argus Metals Corp.
501 - 525 Seymour Street,
Vancouver BC, V6B 3H7
Telephone: (604) 764-7094
Facsimile: (604) 568-7608
Website: www.argusmetalscorp.com
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 news release.
We seek safe harbor.
Argus Metals Corp. published this content on 26 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 August 2016 22:59:07 UTC.
Original documenthttp://www.argusmetalscorp.com/s/NewsReleases.asp?ReportID=761681&_Type=News-Releases&_Title=Argus-Metals-Closes-1st-tranche-of-Private-Placement
Public permalinkhttp://www.publicnow.com/view/8A1E20FD87303A20F73513560C76FEE65B45EB95