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Bullboard - Stock Discussion Forum Western Magnesium Corp V.WMG.H

Alternate Symbol(s):  MLYF

Western Magnesium Corporation is a producer of green primary magnesium metal. The Company is focused on plant operations and magnesium production. It uses a continuous silicothermic process to produce magnesium with low labor and energy costs while generating minimal waste and toxic by-products. The Company's technology eliminates inefficiencies and allows for a continuous, mass production of... see more

TSXV:WMG.H - Post Discussion

View:
Post by cabz on Nov 01, 2022 9:31pm

PP

 

Western Magnesium debenture private placement

 

2022-11-01 20:44 ET - Private Placement

 

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on March 30, 2022.

 

Convertible debenture:  $2-million (U.S.)

Conversion price:  The principal amount owing is convertible for up to 6,666,667 conversion units, each consisting of one common share in the capital of the company and one share purchase warrant, at a conversion price of 30 cents per conversion unit.

Maturity date:  18 months from the date of issuance

Warrants:  Each warrant will have a term of five years from the date of issuance of the convertible debentures and entitle the holder to purchase one share upon exercise. The warrants are exercisable at the price of 40 cents.

Interest rate:  15 per cent per annum, due quarterly in arrears in each year following the closing date (unless deferred at the election of the holder)

Number of placees:  one placee

Insider/pro group participation:  none

Finder's fee:  none

 

The company issued a news release on April 18, 2022, to confirm the closing of the private placement.

© 2022 Canjex Publishing Ltd. All rights reserved.

Comment by StopTheScam on Nov 02, 2022 6:32am
This post has been removed in accordance with Community Policy
Comment by stockprobe19 on Nov 02, 2022 12:37pm
Cabz notice the date WMG closed the PP April 18, 2022. It took the TSX Venture Exchange 5 and a half months to approve that!! It looks like the TSX is working against companies to move forward with any ventures. Maybe it's time to get rid these regulators that do nothing but hinder progress in Canada. 
Comment by AucontraireII on Nov 02, 2022 3:10pm
Probe, why would you worry about a little thing like financing when WMG has already produced metal at over 99.8% purity. That's the only thing that matters according to one preeminent board barker...
Comment by stockprobe19 on Nov 02, 2022 4:00pm
Aucon did you get permission to speak from KTD? 
Comment by AucontraireII on Nov 02, 2022 6:07pm
I will answer Probe, but I'm still waiting on KTD to give me the OK...
Comment by stockprobe19 on Nov 02, 2022 6:09pm
OK Robin. 
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