Discovery Energy Metals completes private placement for proceeds of $1M

Discovery Energy Metals (OTCQB:DEMCF [https://seekingalpha.com/symbol/DEMCF]) has completed [https://seekingalpha.com/pr/20205953-discovery-energy-metals-completes-non-brokered-private-placement-for-proceeds-of-1000-000] a non-brokered private placement of 10,000,000 units of the company for $0.10 per unit for gross proceeds of $1,000,000.

Each unit is comprised of one common share of the company and one transferable share purchase warrant, with each warrant exercisable to acquire one common share of the company at a price of $0.15 per share for 24 months from the date of issuance. 

The gross proceeds from the offering will be used for general working capital and property exploration.

 

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* Financial information for Discovery Energy Metals Corp. [https://seekingalpha.com/symbol/DEMCF/income-statement]