Source: Prismo Metals Inc.
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  • Prismo Metals (PRIZ) has closed its previously-announced brokered private placement financing of units for gross proceeds of $3,016,000
  • Each unit, priced at $0.52 per unit, was made up of one common share in the capital of the company and one-half of one of a common share purchase warrant of the company
  • The company intends to use the net proceeds from the issuance of the units for further exploration work on its projects and general working capital purposes
  • Prismo is a junior mining company focused on precious metal exploration in Mexico
  • Prismo Metals Inc. was down 1.79 per cent, trading at $0.55 at 10:20 ET

Prismo Metals (PRIZ) has closed its previously-announced brokered private placement financing of units for gross proceeds of $3,016,000.

PI Financial Corp. acted as lead agent on behalf of a syndicate of agents, including Agentis Exempt Market Dealer LP.

“The proceeds from this financing will be used to continue drilling at our Palos Verdes project and to complete the mapping and sampling program at the Los Pavitos project and conduct an initial diamond drilling program on that property,” noted Craig Gibson, President and CEO of Prismo Metals.

“We are currently planning an additional 3,000 metres of drilling at Palos Verdes and 5,000 metres of drilling at Los Pavitos,” he added.

Each unit, priced at $0.52, comprised one common share and one-half of one common share purchase warrant.

Each whole warrant entitles the holder to acquire one additional common share at a price of $0.75 for a period of three years from the closing date of the offering.

The company issued a total of 5,800,000 units under the offering.

The company intends to use the net proceeds for further exploration work on its projects and general working capital.

Prismo is a junior mining company focused on precious metal exploration in Mexico.

Prismo Metals Inc. was down 1.79 per cent, trading at $0.55 at 10:20 ET.


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