Canada Strategic Metals Inc. (TSXV:CJC) announced that it has closed the second tranche of a non-brokered private placement for $70,000.
As quoted in the press release:
The Company has issued 700,000 units of common shares at a price of $0.10 per unit, for gross proceeds of $70,000. Each unit consists of one common share priced at $0.10 and half a warrant to purchase a common share of the Company. Each warrant entitles its holder to purchase one common share of the Company at $0.15 for a 24-month period after closing of the private placement.
The Company paid intermediary fees of $800, along with 8,000 compensation options entitling their holders to purchase 8,000 common shares of the Company at a price of $0.15 per share for a 24-month period following the closing of the private placement.