Vancouver, British Columbia--(Newsfile Corp. - November 14, 2017) - Affinity Metals Corp. (TSXV: AFF) ("the Corporation") today announced that it has closed the fully subscribed non-brokered private placement offering ("the Offering") announced on November 3, 2017.
A total of 2,000,000 units ("Units") at a price of $0.10 per Unit were subscribed for resulting in proceeds of $200,000 to the Corporation. Each Unit consists of one common share of the Corporation ("Common Share") and one half of one non-transferrable Common Share purchase warrant. Each whole 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.
The securities issued in this offering are subject to a four month hold period. A finder's fee consisting of 50,000 common shares of the Corporation was paid to an arm's length finder. Proceeds will be used for general operating purposes including mineral property acquisitions.
The closing of this private placement is subject to approval by the TSX Venture Exchange.
The Corporation also reports that it has issued 425,000 incentive stock options at a price of $0.06 under the Corporation's incentive stock option plan to certain Directors and Officers. The options will expire on November 13, 2027. The options are subject to a statutory four month hold period.
The issuance of incentive options is subject to approval by the TSX Venture Exchange.
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.