Nice.......reminds me of what OSK did with Oban when it was trading around a dollar ...drill results followed by a small finacing above market value...name change and they have built a nice war chest...could be that Sprott is doing the same buisness model with MTO ...then TSE listing down the road... we already have a mill...so it looks like we are building MTO up to become a mid tier producer over time ....I think we will see the pieces come togther slowly over the year...I like what I am seeing so far ....still need to get a few things settled and we are on our way...
Metanor arranges $5-million private placement
2017-06-08 18:16 ET - News Release
Mr. Ronald Perry reports
METANOR ANNOUNCES $5 MILLION BROKERED PRIVATE PLACEMENT
Metanor Resources Inc. has entered into an agreement with Sprott Capital Partners to act as lead agent on behalf of a syndicate of agents including Red Klondike Strike Inc., pursuant to which the agents will sell by way of private placement, up to 4,425,000 flow-through shares at a price of $1.13 each for maximum aggregate gross proceeds of $5,000,250.
The gross proceeds from the offering will be used to finance exploration of the company's properties as qualifying Canadian exploration expenses as defined in Subsection 127(9) of the Income Tax Act (Canada), which will be renounced to the subscribers with an effective date of Dec. 31, 2017.
It is anticipated that the private placement will close on or before June 29, 2017, and is subject to the completion of formal documentation, receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange, and other customary conditions.
In connection with the offering, the agents will receive a cash commission equal to 6.0 per cent of the gross proceeds raised.
All of the securities sold pursuant to the offering will be subject to a four-month hold period which will expire four months and one day from the date of Closing.
We seek Safe Harbor.
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