|
| Home : Ferrum Americas Announces Closing of Private Placement Offering of Subscription Receipts |
|
Nov 07
2015 |
Ferrum Americas Announces Closing of Private Placement Offering of Subscription Receipts |
|
TORONTO, ONTARIO--(Marketwired - Nov. 6, 2015) - Ferrum Americas Mining Inc. ("Ferrum" or the "Company") (TSX VENTURE:FEM) is pleased to announce that it has closed its non-brokered private placement offering of 47.1 million subscription receipts (the "Subscription Receipts") of the Company (the "Offering"), for aggregate gross proceeds of CDN$471,000, representing a price of CDN$0.01 per Subscription Receipt. Each Subscription Receipt issued by the Company will ultimately entitle the holder thereof to receive one common share of the Company (a "Common Share") on the automatic exchange thereof. The Subscription Receipts are subject to a four month hold period expiring on March 7, 2016. The Subscription Receipts are comprised of two tranches, being CDN$96,000 worth of "Tranche 1 Subscription Receipts" and CDN$375,000 worth of "Tranche 2 Subscription Receipts". The Company currently has 47,149,684 Common Shares issued and outstanding and will have a total of 94,249,684 Common Shares issued and outstanding if all of the Subscription Receipts are exercised into Common Shares. |
|
|
|
| Source:http://www.marketwired.com/mw/release.do?id=2071259&sourceType=3 |
| |
|
Related News
|
» Formation Fluid Management Inc. Receives Loans of CAD$700,000
» Reservoir Capital Corp.: Completion of Private Placement
|
|
|
