Sudbury, Ontario--(Newsfile Corp. - December 31, 2018) - Transition Metals Corp. (TSXV: XTM) ("Transition" or "the Corporation") is pleased to report it has closed its previously announced (see news release dated December 21, 2018) flow-through private placement raising $199,985 from the sale of 1,739,000 Flow Through common shares at a price of $0.115 per share. The new securities issued are subject to the standard four month hold period expiring April 29, 2019.
The Company paid finders' fees consisting of $9,999.25 plus applicable taxes in cash. Gross proceeds of the placement will be used to incur Canadian exploration expenditures that are "flow-through mining expenditures" (as such terms are defined in the Income Tax Act (Canada)).
About Transition Metals Corp.
Transition Metals Corp (TSXV: XTM) is a Canadian-based, multi-commodity project generator that specializes in converting new exploration ideas into Canadian discoveries. The award-winning team of geoscientists has extensive exploration experience in established, emerging and historic mining camps and actively develops and tests new ideas for discovering mineralization in places that others have not looked, which often allows the Corporation to acquire properties inexpensively. The team is rigorous in its fieldwork and combines traditional techniques with newer ones to help unearth compelling prospects and drill targets. Transition uses the project generator business model to acquire and advance multiple exploration projects simultaneously, thereby maximizing shareholder exposure to discovery and capital gain. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution. The Corporation has an expanding portfolio that currently includes more than 25 gold, copper, nickel and platinum projects primarily in Ontario, Nunavut, British Columbia, Nova Scotia, New Brunswick, Newfoundland and Saskatchewan.
Further information is available at www.transitionmetalscorp.com or by contacting:
President and CEO
Transition Metals Corp.
Tel: (705) 669-0590
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