Ecometals Limited (CVE:EC) closes the final tranche of a previously announced non-brokered private placement for gross proceeds of CDN$325,000.
The press release is quoted as saying:
Each Warrant entitles the holder to purchase one Common Share at a price of CDN$0.25 for a 24 month period. In lieu a cash fee, the Company has also issued 77,333 finder’s units of the Company (each a “Finder’s Unit) to certain finders, as a finder’s fee in respect of subscribers located by each finder in connection with this final tranche. Each Finder’s Unit comprises a Common Share and a non-transferable Warrant. The securities issued in the final tranche of the Offering are subject to a four month hold period expiring on April 11, 2011.