- Prismo Metals (PRIZ) has completed the first of two planned non-brokered private placements for total gross proceeds of $1,010,000
- The company issued a total of 3,666,666 units at a price of $0.30 per unit
- Prismo Metals plans to close a second private placement in the first half of January, 2022
- Proceeds from the two offerings will be used to complete a 4,000-meter drilling campaign on its Palos Verdes property and to conduct exploration on its Los Pavitos property
- Prismo is a junior mining company focused on precious metal exploration in Mexico
- Prismo Metals Inc. (PRIZ) opened trading at C$0.39 per share
Prismo Metals (PRIZ) has completed the first of two non-brokered private placements for total gross proceeds of $1,010,000.
The company issued a total of 3,666,666 units at a price of $0.30 per unit
“On December 7th, 2021, the company announced its intention to complete a private placement of up to $2 million. This remains our plan. Given the holiday season, we decided to proceed with two closings of $1 million. We expect the second closing of the private placement at the same terms and conditions to take place in the first half of January 2022,” said Craig Gibson, President and CEO of Prismo Metals.
Each unit includes one common share and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at a price of C$0.45 for a period of 24 months following the closing date of the offering. The securities issued in the private placement are subject to a four-month hold period expiring on April 23, 2022.
Proceeds from the two offerings will be used to complete a 4,000-meter drilling campaign on its Palos Verdes property, conduct exploration on its Los Pavitos property and for general working capital.
Finder’s fees of $43,050 in cash and 143,500 non-transferable finder’s warrants were issued to arm’s length third parties. Each finder’s warrant entitles the holder to acquire one common share for the price of $0.30 for a period of two years following the closing.
Prismo is a junior mining company focused on precious metal exploration in Mexico.
Prismo Metals Inc. (PRIZ) opened trading at C$0.39 per share.