- T2 Metals Corp. (TWO) has disclosed its plan to raise gross proceeds of up to $1.4M through two private placements
- The company proposes to issue 2,777,777 units in a flow-through private placement for gross proceeds of up to $1,000,000
- The company will also issue 1,379,310 units in a non-flow-through private placement for gross proceeds of up to $400,000
- T2 Metals Corp. is an emerging copper and precious metal company
- T2 Metals Corp. opened trading at $0.37
T2 Metals Corp. (TWO) has disclosed its plan to raise gross proceeds of up to $1.4M through two private placements.
The company will issue 2,777,777 units in a flow-through private placement for gross proceeds of up to $1,000,000. Each FT unit will consist of one flow-through common share and one non-flow-through common share purchase warrant, exercisable to purchase one additional non-flow-through common share at a price of $0.45 for a period of thirty-six months from the date of issuance.
The company will also issue 1,379,310 units in a non-flow-through private placement for gross proceeds of up to $400,000. Each unit will consist of one common share and one-half of a common share purchase warrant, with each whole warrant exercisable to purchase one additional common share at an exercise price of $0.45 for a period of thirty-six months from the date of issuance.
Net proceeds from the offerings will be used to fund further exploration activities at the company’s properties, as well as for general working capital purposes.
All securities issued will be subject to a statutory four-month hold period.
T2 Metals Corp. is an emerging copper and precious metal company.
T2 Metals Corp. opened trading at $0.37.