White Metal Increases Financing to $540,000

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Thunder Bay, Ontario--(Newsfile Corp. - May 27, 2019) - White Metal Resources Corp. (TSXV: WHM) ("White Metal" or the "Company") further to its April 16, 2019 news release, White Metal is pleased to announce that it has increased its non-brokered private placement unit (the "Units") financing (the "Financing") from $300,000 to $540,000 and has today filed documents with the TSX Venture Exchange (the "Exchange") for approval to close the financing.

On approval, the Company will issue 10,800,000 Units, each Unit consisting of one (1) common share of the Company and one (1) common share purchase warrant (the "Warrants"), each Warrant entitling the holder to purchase one additional common share of the Company at $0.10 for a period of two (2) years from the date of issuance.

Subject to Exchange approval, a cash finders' fee of $3,500 will be paid and 70,000 broker warrants, exercisable at $0.10 for 2 years, will be issued.

All securities issued pursuant to this Financing will be subject to a four (4) month statutory hold.

Funds raised in the Financing will be used towards the Company's gold projects in Newfoundland, its proposed purchase of projects in Namibia (see May 13, 2019 news release), and for general working capital purposes.

About White Metal Resources Corp (TSXV: WHM)

White Metal Resources Corp. is a junior exploration company currently exploring in Canada and looking for opportunities world-wide. For more information please visit the Company's website at www.whitemetalres.com.

On behalf of the Board of Directors of White Metal Resources Corp.

"Michael Stares"
Michael Stares, President & CEO

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.

For further information contact:

Michael Stares
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836
Fax (807) 475 7200

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45060

Comment On!

Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).