ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

WMM

0.00
0.00 (0.00%)
Share Name Share Symbol Market Type
TSXV:WMM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

West Melville Financing Increased and Closed

28/05/2013 10:00pm

Marketwired Canada


West Melville Metals Inc. (TSX VENTURE:WMM) ("West Melville" or "the Company")
announced today that the non-brokered private placement previously announced on
May 6, 2013 (News Release WMM13-04) has been over-subscribed and closed. A total
of 10,450,000 units were issued at a price of $0.05 per unit for gross proceeds
to the Company of $522,500. This represents an increase of 3,450,000 units over
the announced offering. 


As previously announced, each unit will consist of one common share and one
common share purchase warrant. Each common share purchase warrant will be
exercisable into one common share for a period of two years from closing at a
price of $0.20 per share, subject to the Company's right to accelerate the
exercise of the warrants if the daily volume weighted average trading price of
the common shares of the Company on the TSX Venture Exchange is equal to or
exceeds $0.30 for a period of 10 consecutive trading days during the term of the
warrant, commencing four months after the date the warrants are issued.  


The securities issued by West Melville in connection with the Offering are
subject to a four month hold period as prescribed by the TSX Venture Exchange
and applicable securities laws which expires on September 29, 2013. In
aggregate, the Company paid the following finders' fees: $18,250 cash commission
and 245,000 finder's warrants with the same terms as the warrants issued under
the private placement. The Company intends to use the proceeds of the private
placement for general working capital purposes. 


About West Melville Metals Inc. 

West Melville is an iron ore and specialty metals exploration company working to
advance the Fraser Bay iron ore project in Nunavut and the Isortoq
iron-titanium-vanadium project in Greenland. The Company has assembled an
experienced management team with a track record of discovery success and a Board
of Directors with expertise covering the essential fields of geology,
engineering and finance. West Melville's projects offer a combination of low
geological risk with significant upside potential in high demand commodity
sectors. 


On behalf of the Board of Directors

Rory O. Moore, Ph.D., President and CEO

West Melville Metals Inc.

West Melville Metals Inc. is a member of the Aurora Mineral Resource Group of
companies. For more information please visit www.auroraresource.com. 


Certain disclosures in this release constitute forward-looking statements that
are subject to numerous risks, uncertainties and other factors relating to West
Melville's operations as a mineral exploration company that may cause future
results to differ materially from those expressed or implied in such
forward-looking statements, including risks as to the completion of the plans
and projects. Readers are cautioned not to place undue reliance on
forward-looking statements. Other than as required by applicable securities
legislation, West Melville expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new
information, future events, or otherwise.


FOR FURTHER INFORMATION PLEASE CONTACT: 
West Melville Metals Inc.
Investor Relations
Toll Free: 1.888.331.2269 or 604.646.4527
info@westmelville.com
www.westmelville.com

1 Year West Melville Metals Inc. Chart

1 Year West Melville Metals Inc. Chart

1 Month West Melville Metals Inc. Chart

1 Month West Melville Metals Inc. Chart

Your Recent History

Delayed Upgrade Clock