- Vital Battery Metals (VBAM) has closed a non-brokered private placement for gross proceeds of $2,300,000
- The company issued 9,200,000 units at $0.25 per unit
- Net proceeds will be used primarily to fund the exploration of the company’s Sting and Vent Properties
- Vital Battery Metals is a mineral exploration company
- Vital Battery Metals Inc. (VBAM) opened trading at C$0.38
Vital Battery Metals (VBAM) has closed its previously-announced non-brokered private placement for gross proceeds of $2,300,000.
The company issued 9,200,000 units at $0.25 per unit. Each unit consists of one common share and one transferable share purchase warrant. Each warrant entitles the holder to acquire one additional common share for a period of 24 months from the closing date of the offering.
The company paid finder’s fees totalling $58,975 and issued 235,900 finder’s warrants to arm’s-length parties.
Net proceeds will be used to fund the exploration of the company’s Sting and Vent Properties and for general working capital.
All securities issued will be subject to a hold period expiring March 9, 2023.
Vital Battery Metals is a mineral exploration company dedicated to the development of strategic projects consisting of battery, base and precious metals. The company is working to advance its Sting Copper Project and its Vent Copper-Gold project.
Vital Battery Metals Inc. (VBAM) opened trading at C$0.38.