Cardston, Alberta--(Newsfile Corp. - September 3, 2019) - Affinity Metals Corp. (TSXV: AFF) ("the Corporation") ("Affinity") today announced that it will be offering on a non-brokered private placement basis ("the Offering") up to 6,000,000 units ("Units") at a price of $0.10 per Unit for proceeds of $600,000 if the Offering is fully subscribed.
Each Unit consists of one common share of the Corporation ("Common Share") and one non-transferrable Common Share purchase warrant ("Warrant"). Each Warrant may be exercised for one additional Common Share at a price of $0.15 for a period of 12 months from the closing date of the Offering except that, from and after the date that is four months and one day after the closing date, if the closing price of the Corporation's shares exceeds $0.215 for 30 consecutive days, the Corporation may, at any time thereafter, accelerate the expiry date of the Warrants to the date that is 15 days following the date on which the Corporation issues notice to all the Warrant holders of the new expiry date.
Insiders may participate in the offering. A finder's fee of up to 7% in cash or shares may be paid to arm's length finders in relation to this Offering. Proceeds from the Offering will be used for general operating purposes including mineral property acquisitions.
This private placement is subject to approval by the TSX Venture Exchange.
Affinity Metals is a Canadian mineral exploration company focused on advancing the Regal polymetallic project located near Revelstoke, BC.
On behalf of the Board of Directors
Robert Edwards, CEO and Director of Affinity Metals Corp.
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.
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