- European Energy Metals (TSXV:FIN) announced a non-brokered private placement to raise gross proceeds of up to $2,502,000
- The company intends to use the net proceeds for exploration work on its properties and for working capital
- European Energy Metals is a junior mining company
- European Energy Metals Corp. (FIN) is down 14.1 per cent, trading at C$0.67 per share at 2:40 pm ET
European Energy Metals (TSXV:FIN) announced a non-brokered private placement to raise gross proceeds of up to $2,502,000.
The company plans to issue up to 6,950,000 units at $0.36. Each unit will consist of one common share and one half of a common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share at $0.75 for three years, following the closing date.
The company may pay finder’s fees with 7 per cent cash and issue 7 per cent finder’s warrants. The finder’s warrants will have the same terms of the warrants forming part of the units.
The company intends to use the net proceeds for exploration work on its properties and for working capital. Completion of the private placement remains subject to the approval of the TSX Venture Exchange.
About the company
European Energy Metals is a junior mining company. It focuses on the exploration and development of its portfolio of projects in Finland and British Columbia.
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