RENO, Nev.--(BUSINESS WIRE)--EMC Metals Corp. (the “Company” or “EMC”) (TSX:EMC) announces that it has completed a two tranche private placement for a total of C$1,279,814 in gross proceeds, at a price of C$0.085 per share.
The first tranche of the placement totalled 10,415,396 common shares for gross proceeds of $C885,309 (announced June 27th, 2014) and the second tranche totalled 4,641,236 common shares for gross proceeds of C$394,505. The Company paid finders’ fees of approximately C$32,600 on the full transaction.
The proceeds from the financing will be used for general working capital, and specifically for the advancement of the Company’s Nyngan Scandium Project in NSW, Australia.
All securities issued under the private placement are subject to a Canadian hold period expiring four months after the closing date. The securities are also subject to restrictions on resale under U.S. federal securities laws.
For additional information please contact:
EMC Metals Corp.
Investor Relations; (775)-233-7328 or (925) 208-1775 or email@example.com
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein. The securities have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws, and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.