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Visionary Metals Closes C$7.44 Million Financing Including a Teck Investment

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Visionary Metals (VIZ.V) said Friday afternoon it closed a share-unit financing, raising C$7.44 million.

The company said it placed 31-million units at $0.24 per unit, including a C$1.2 million investment from Teck Resources (TECK-A.TO, TECK-B.TO). Each unit consists of a share and one half of a three-year warrant to buy a share for C$0.36 for 36 months.

Each unit consists of a share and one half of a three-year warrant to buy a share for C$0.36 for 36 months. Of the total units issued, 19.7 million were sold under the LIFE and 11.3 million through a concurrent private placement, the company said.

The company said at least C$2.4 million of the proceeds, along with Teck's direct funding, will be used to support diamond drilling at its Tin Cup and King Solomon nickel-copper projects. About C$1.33 million will be used to repurchase shares from a shareholder's estate, with the remaining funds allocated to advancing the Slipstream copper-gold-silver project and for general corporate purposes.

Price: $0.30, Change: $-0.03, Percent Change: -9.09%

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