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Formation Metals Announces $3 Million Private Placement with Dundee Securities
May. 04, 2016 11:55AM PST
Battery Metals
Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) announced that it has entered into an agreement with Dundee Securities Ltd. under which the Agent has agreed to offer for sale, on a “best efforts” private placement basis, units of the Company at a price of C$0.30 per Unit for total gross proceeds of up to approximately C$3,000,000.
Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) announced that it has entered into an agreement with Dundee Securities Ltd. under which the Agent has agreed to offer for sale, on a “best efforts” private placement basis, units of the Company at a price of C$0.30 per Unit for total gross proceeds of up to approximately C$3,000,000.
The Company intends to use the net proceeds of the Offering to fund bankable feasibility level technical studies of the Company’s Idaho Cobalt Project and for general working capital purposes.
Connect with Formation Metals Inc. (TSX:FCO,OTCQX:FMETF) to receive an Investor Presentation.
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