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| Home : Xmet Closes Final Tranche of Financing for Total Proceeds of $700,000 to Proceed with Development of its Blackflake Project |
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Jan 02
2014 |
Xmet Closes Final Tranche of Financing for Total Proceeds of $700,000 to Proceed with Development of its Blackflake Project |
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TORONTO, ONTARIO--(Marketwired - Jan. 2, 2014) - Xmet Inc. (TSX VENTURE:XME)(OTCQX:XMTTF) ("Xmet") is pleased to announce that, subject to the acceptance of the TSX Venture Exchange (the "Exchange"), it has closed a second and final tranche of a non-brokered private placement offering of 1,600,000 common shares and 120,000 share purchase warrants in the capital of Xmet at a price of $0.125 per Share for aggregate gross proceeds of $200,000 (the "Second Closing"). The Second Closing was composed of 1,360,000 common shares issued on a flow through basis and 240,000 units issued on a non-flow through basis, with each unit composed of one common share and one half of a common share purchase warrant entitling the holder to purchase one common share at $0.19 for one year from closing. Certain directors and officers of Xmet participated in the final tranche of the financing. |
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| Source:http://www.marketwired.com/mw/release.do?id=1865921&sourceType=3 |
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