Volcanic Arranges $1.5-million Financing
April 14 2010 - 1:01PM
Marketwired
Volcanic Metals Corp. (TSX VENTURE: VOL) ("Volcanic") has arranged
a non-brokered private placement of up to six million units at a
price of $0.25 cents per unit for gross proceeds of up to
$1.5-million. Each unit will comprise one common share and one-half
of a share purchase warrant, with a whole warrant entitling the
holder to purchase a common share at a price of $0.40 cents for a
period of two years from closing.
The proceeds of the private placement will be used for mineral
property exploration and for general working capital. The
securities issued pursuant to the private placement will be subject
to a hold period of four months and one day from the date of
issuance. Completion of the private placement and payment of
finders' fees, if any, are subject to the approval of the TSX
Venture Exchange.
ON BEHALF OF THE BOARD
VOLCANIC METALS CORP.
John LaGourgue, President, Chief Operating Officer and
Director
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Volcanic Metals Corp. John LaGourgue (604) 568-6312
(604) 357-1419 (FAX) www.volcanicmetals.com
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