White Metal Amends Agreement to Purchase Namibian Properties and Increases Private Placement
Thunder Bay, Ontario--(Newsfile Corp. - June 12, 2019) - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") is pleased to announce that it's previously announced (news release dated May 13, 2019) agreement to acquire three exclusive prospecting licenses in Namibia from Atlan Minerals and Investments CC ("Atlan") has been amended. The original agreement that called for a purchase price of $US37,500 in cash and the issuance of 8,000,000 shares of the Company has been amended to provide for the payment of $US75,000 and the issuance of 7,000,000 shares of the Company.
The Company also announces that the private placement announced on June 7, 2019 has been increased to $160,000, and will consist of the issuance of units at $0.05 per unit, each unit being comprised of one common share and a warrant to purchase a further common share at $0.10 for a period of two years.
Subject to Exchange approval, a cash finders' fee of $11,200 will be paid and 224,000 broker warrants, exercisable at $0.10 for 2 years, will be issued.
All securities issued pursuant to this private placement will be subject to a four (4) month statutory hold.
The Company is, subject to the receipt of TSX-V approval, in the process of closing the Namibian property transactions, the previously announced $540,000 financing and the above referenced $160,000 financing.
About White Metal Resources Corp (TSXV: WHM)
White Metal Resources Corp. is a junior exploration company currently exploring in Canada and looking for opportunities world-wide. For more information please visit the Company's website at www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.
Michael Stares, Director
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.
For further information contact:
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax (807) 475 7200
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45558