Metalero Mining Announced $3 Million Private Placement
Metalero Mining (MLO.V) on Wednesday proposed to complete a non-brokered private placement financing of up to around 13.6 million units at a price of $0.22 each for gross proceeds of up to $3 million.Each unit will consist of one common share and one share purchase warrant, said the company. Each warrant will entitle the holder to purchase one additional common share of Metalero at an exercise price of $0.35 for a period of 24 months from the date of issuance, it added.The gross proceeds will be used to advance exploration and development of Metalero's projects, including the newly acquired concessions in Bolivia, as well as for general working capital purposes, the company noted.The offering is subject to the approval of the TSX Venture Exchange.
