EMC Metals Corp. (TSX:EMC) has completed a two tranche private placement totalling C$1,279,814 in gross proceeds, at a price of C$0.085 per share. EMC will use proceeds from the financing for the advancement of its Nyngan Scandium Project in New South Wales, Australia and for general working capital.
As quoted in the private placement.
The first tranche of the placement totalled 10,415,396 common shares for gross proceeds of $C885,309 (announced June 27th, 2014) and the second tranche totalled 4,641,236 common shares for gross proceeds of C$394,505. The Company paid finders’ fees of approximately C$32,600 on the full transaction.