Metanor Announces Increase to $5.9 Million in Brokered Private Placement

metanor, gold, quebec

Metanor Resources Inc., (TSX VENTURE:V.MTO) is pleased to announce that it has entered into an amended agreement with Sprott Capital Partners to act as lead agent (the “Lead Agent”) on behalf of a syndicate of agents including Red Cloud Klondike Strike Inc. (collectively with the Lead Agent, the “Agents”), pursuant to which the Agents will sell by way of private placement, up to 5,250,000 flow-through shares at a price of $1.13 each (the “FT Shares”) for maximum aggregate gross proceeds of $5,932,500 (collectively, the “Offering”).

The gross proceeds from the Offering will be used to fund exploration of the Company’s properties as qualifying Canadian Exploration Expenses as defined in subsection 127(9) of the Income Tax Act (Canada) which will be renounced to the subscribers with an effective date of December 31, 2017.
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