E3 Metals Adjusts Terms of Financing – Sign of more bad things to come? Spoiler Alert – Still way overpriced imo…
https://www.newswire.ca/news-releases/e3-metals-adjusts-terms-of-financing-887720291.html /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
CALGARY, AB, Dec. 2, 2020 /CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading lithium extraction technology innovator, today announced that in agreement with Canaccord Genuity Corp, coordinated with Mackie Research Capital Corp ("MRCC") and our valued presidents list subscribers, has agreed to amend the terms of the financing announced on November 19, 2020. The new terms of the placement of the unit offering (the "Units") has been adjusted to C$0.85 per Unit for gross offering of C$5,000,000 (the "Offering").
Each Unit will be comprised of one common share of the Company (a "Common Share") and one half of one Common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant shall be exercisable to acquire one Common Share (a "Warrant Share") at a price of C$1.40 per Warrant Share for a period of 24 months from the closing of the Offering.