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| ||May 30, 2017|
Argus Metals Announces Private Placement
| ||Vancouver, B.C., May 30, 2017 - Argus Metals Corp. (the "Company" or "Argus") (TSX.V: AML) announces a non-brokered private placement of up to 2,000,000 units of the Company ("Units") at a price of $0.10 per Unit for gross proceeds of up to $200,000. Each Unit will consist of one common share and one-half common share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder to purchase one half common share of the Company for a period of 24 months from the closing date at a price of $0.15 per common share. The Company also announces its intention to complete a non-brokered private placement of up to 420,000 flow-through shares of the Company at a price of $0.12 per share for gross proceeds of up to $50,400. The total fund raising will have gross proceeds of $250,400. |
The Company may pay finder's fees of up to 7.0% of subscription amounts placed, payable in cash or Units, plus issue finder's warrants in an amount up to 7.0% of securities sold, with each such finder's warrant exercisable to acquire one common share of the Company at a price of $0.15 for twelve months from closing.
Closing of the Offering is anticipated to occur on or before July 14, 2017 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. Securities issued under the Offering will be subject to a four month hold period which will expire four months from the date of closing.
The proceeds from the Offering will be used to continue exploration on new Copper Porphyry target in the Babine District, the Company's Ike Exploration Project, general working capital purposes and project generation.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
For further information, please contact:
Argus Metals Corp.
501 - 525 Seymour Street,
Vancouver BC, V6B 3H7
Telephone: (604) 764-7094
Facsimile: (604) 568-7608
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 news release.
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