VANCOUVER, BC / ACCESSWIRE / November 23, 2021 / BTU METALS CORP. ("BTU" or the "Company") (TSXV:BTU)(OTCQB:BTUMF) announces it has closed its previously announced non-brokered private placement, (see Press Releases November 11 & 17, 2021), of 3,050,000 units at a price of $0.09 per unit for aggregate gross proceeds of $274,500.
Each unit shall be comprised of one common share of the company and one-half of one transferable common share purchase warrant. Each whole warrant will entitle the holder to acquire one common share of BTU at a price of $0.15 for a period of 18 months following the closing of the offering.
Finders' fees of $7,245.00 were paid to arm's length parties.
The shares and warrant comprising the units are subject to a 4 month hold period expiring March 24th, 2022.
Closing of the offering is subject to final approval of the TSX Venture Exchange.
Proceeds raised from the Offering will be used for operations on the ground as well as general and administrative purposes as the Company continues to drill its high-grade gold targets on its Dixie Halo project now at Heiwall and Rose Lakes, to be followed by Pakwash North and additional gold targets.
BTU Metals Corp. is a junior, mining exploration company focused on its Dixie Halo project located in Red Lake, Ontario.
ON BEHALF OF THE BOARD
Paul Wood, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andreas Curkovic, Investor Relations
BTU Metals Corp.
Toll Free: 1-888-945-4770
Neither the 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.
SOURCE: BTU Metals Corp.