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Irruptive Metals Upsizes Bought-Deal Private Placement to C$50 Million

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Irruptive Metals (IRR.V) on Friday said it is upsizing a bought-deal private placement to C$50 million from its prior C$30-million target.

The company will now sell underwriters 40-million units at C$1.25 apiece and made up of a share and one half of a two-year warrant to buy a share for C$1.65.

The company also granted the underwriters an eight-million unit over-allotment option..

Proceeds will be used to advance its Pimenton project in Chile, as well as for working capital and general corporate needs.

Shares of the company were last seen down C$0.06, of 4.3%, to C$1.34 on the TSX Venture Exchange.

Price: $1.34, Change: $-0.06, Percent Change: -4.29%

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