BTU Closes Financing

VANCOUVER, BC / ACCESSWIRE / June 24, 2019 / BTU METALS CORP. (“BTU” or the “Company“) (BTU-TSX-V) is pleased to announce that further to its press releases dated June 10th and June 11th, 2019 the Company has closed the fully subscribed non-brokered flow through private placement. The Company issued 11,000,000 flow through units (the “FT Units”) at a price of $0.135 per Unit for aggregate gross proceeds of $1,485,000.00.

Each FT Unit is comprised of one flow through common share (a “FT Share”) and one half of one non-flow through Share purchase warrant (a “Warrant”) of the Company. Each full Warrant will entitle the holder to purchase one Share (a “Warrant Share”) at a price of $0.18 per Warrant Share for a 24 month period after the Closing Date.

Finders’ fees of $94,607.73 and 552,650 broker warrants were paid to arm’s length parties. Finder’s had the option to accept cash or could accept an equivalent amount in Finder’s units (the “Finder’s Units”). The Finder’s units are comprised of one non-flow through common share (a “Finder’s Share”) of the Company for a purchase price of $0.135 and one half of one finder’s share purchase warrant (a “Finder’s Warrant”). Each whole finder’s warrant entitles the finder to purchase one common share in the Company for a purchase price of $0.18 for a period of 2 years from the date of closing. Finder’s electing to accept finder’s units in lieu of cash resulted in the Company issuing 645,778 finder’s unit consists of one non-flow Finder’s Share and 248,815 Finder’s warrants entitling the Finder to purchase one common share in the Company at a price of $0.18 for a period of two years from the date of closing.

The shares, finder’s shares and warrants comprising the units and finder’s units are subject to a 4 month hold period expiring October 25th, 2019.

Proceeds raised will be used for advancing the Company’s Dixie Halo Property in Red Lake, Ontario.

Michael England, President, Director


Telephone: 1-604-683-3995
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.

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