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Integral Metals Raises CA$1.3 Million Via Non-Brokered Flow-Through Private Placement

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Integral Metals (INTG.CN) closed its non-brokered private placement of units raising CA$1.3 million, it said in a statement late Thursday.

The company issued 3.1-million units at CA$0.40 apiece as part of the offering. Each unit consists of one share issued as a "flow-through share" and one transferable 1.5-year warrant, with each warrant entitling the holder to buy a non-flow-through share at CA$0.50.

Proceeds from the issuance of the FT shares will be used to incur eligible "Canadian exploration expenses" that are intended to qualify as "critical flow-through mining expenditures," it said.

Shares of the company closed down 6.9% to CA$0.40 on Thursday on the Canadian Securities Exchange.

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