Lions Gate Metals Announces $5 Million Financing
Vivien Diniz - 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.