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HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 19, 2011) - Linear Metals Corporation (TSX:LRM) is pleased to announce that it intends to complete a non-brokered private placement ("Private Placement") of up to four million units ("Units") at a price of $0.25 per Unit for aggregate gross proceeds of up to $1,000,000. Each Unit will consist of one (1) common share of the Company ("Common Share") and one half (1/2) of one Common Share purchase warrant of the Company ("Warrant"), with each full Warrant entitling the holder to acquire one common share of the Company at a price of $0.35 per common share for a period of 24 months from the closing date. The expiry date of the warrants may be accelerated by the Company if the shares of the Company trade at $0.50 or greater for twenty consecutive trading days. |
