Anteros Metals Raises $1 Million Via Private Placement Financing
Anteros Metals (ANT.CN) closed its non-brokered private placement financing raising proceeds of $1 million, it said Friday.The company said the offering consisted of the issuance of 6.6-million flow-through units (FT unit) at $0.065 apiece, and 11.7-million hard dollar units at $0.05 per unit.Each FT unit was comprised of one common share, issued on a flow-through basis and one-half of one whole common share purchase warrant, issued on a non-flow-through basis with each warrant entitling the holder to buy a share for $0.10 for a two-year period from the date of issuance, subject to certain terms. The FT shares will qualify as "flow-through shares".Each unit was comprised of one common share and one-half of one whole warrant. Proceeds from the sale of the units will be used for general working capital needs and proceeds of the offering received from the sale of the FT shares will be used to incur "Canadian exploration expenses" that will qualify as "flow-through critical mineral mining expenditures".Shares of the company closed down 5.4% to $0.175 on Thursday on the Canadian Securities Exchange.
