Argus Metals Corp. Updates Private Placement

Argus Metals Corp. (TSXV:AML) reports that its non-brokered private placement to raise $1,500,000 will be distributed at a price of $0.10 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 (a “Warrant”). Each whole Warrant will entitle the holder to purchase one common share of the Company for a period of 18 months from the closing date at a price of $0.25 per share, provided that should the closing price of the Company’s shares be at least $0.35 per share for 20 consecutive trading days at any time following four months after the date of closing, the Company may reduce the remaining exercise period of the Warrants to not less than 30 days following the date of giving notice.

For the complete press release, click here.