Lions Gate Metals Announces $5 Million Financing

- February 10th, 2011

Lions Gate Metals Inc. (CVE:LGM) announced that it intends to raise $5,000,000 through a private placement of up to 6,250,000 unites at a price of $0.80 per unit.

Lions Gate Metals Inc. (TSXV:LGM) announced that it intends to raise $5,000,000 through a private placement of up to 6,250,000 unites at a price of $0.80 per unit.

The press release is quoted as saying:

Each unit will consist of one common share and one-half of one common share purchase warrant of the Company. Each whole warrant will entitle the holder to purchase an additional common share of the Company for a period of two years following the date of issuance of the warrants, at a price of $1.20 per share during the first year and a price of $1.50 per share thereafter.

To view the complete press release, click here.

To view Lions Gate Metals’ company profile, click here.

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