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Irruptive Metals to Raise C$30 Million in Private Placement of Units

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Irruptive Metals (IRR.V) said Thursday after trade that it is raising C$30 million in a private placement of units.

The company will issue 24 million units at C$1.25 apiece. Each unit will consist of one share and one 24-month warrant to buy a share at C$1.65. The underwriters have been granted an option to purchase up to an additional 3.6 million units, which, if fully exercised, would raise C$4.5 million.

The offering is expected to close on Sept. 10. Proceeds will be used to develop Irruptive's Pimenton Project in Chile.

Irruptive Metals shares closed up C$0.15, to C$1.40, on the Toronto Stock Exchange.

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