VANCOUVER, British Columbia, Oct. 13, 2017 (GLOBE NEWSWIRE) — Giga Metals Corporation (the “Company”), (TSX.V:GIGA) announced today that it has amended its non-brokered private placement of 4,300,000 units, previously announced September 29, 2017.
The Company has increased the issue from 4,300,000 to up to 6,750,000 units priced at $0.35 for gross proceeds of up to $2,362,500.
Each unit will consist of one share and one-half warrant. The warrants will have a term of 3 years from the date of closing and each full warrant will be exercisable for one new share at a price of $0.45.
Proceeds will be used for general corporate purposes, metallurgical and engineering studies of the company’s Turnagain project and for potential acquisitions in the battery materials space.
Finder’s fees may be paid on some or all of the units placed. The finder’s fees will consist of 6% of the gross cash proceeds payable in cash and finder’s warrants equal to 6% of the units placed. Each finder’s warrant will be exercisable at $0.35 for a term of one year after the closing date of the private placement.
The financing is subject to regulatory approval.
On behalf of the Board of Directors,
MARK JARVIS, CEO
GIGA METALS CORPORATION
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