Cortus Metals (CRTS) has announced plans to raise up to $1,000,000 by issuing up to 6,666,666 units at a price of $0.15 per unit.
Each unit will include one common share and one half of one share purchase warrant. Each whole purchase warrant will entitle the holder to acquire an additional common share at a price of $0.25 per share for a period of 12 months.
The warrants will be subject to an accelerated expiry provision. If the closing price of the company's shares is equal to or greater than $0.30 for a period of five consecutive trading days, Cortus may reduce the remaining exercise period of the warrants to 30 days from the date of such notice.
Finder's fees may be paid to registered dealers or other qualified parties on terms to be determined.
The proceeds will be allocated for exploration expenditures on the company's mineral properties, including land maintenance costs and general working capital.
Cortus reserves the right to increase the number of units issued to up to 10,000,000 for total gross proceeds of up to $1.5 million.
Cortus Metals Inc is a mineral exploration company with projects in Nevada.
Cortus Metals Inc. (CRTS) is currently trading at C$0.14 per share.