Next Gen Metals Inc. (CSE:N,OTC:NXTTF,FWB:M5BN) announced a non-brokered private placement of up to 3,000,000 units for gross proceeds of up to $300,000.
As quoted in the press release:
Each Unit (“Unit”) at a price of $0.10 per unit will consist of one common share (a “Common Share”) and one-half of one, non-transferrable share purchase warrant (a “Warrant”). Each full Warrant entitles the holder to purchase one Common Share at a price of $0.20 per share during the first year, $0.30 per share during the second year and $0.40 per share during the third year.
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