Sudbury, Ontario--(Newsfile Corp. - December 20, 2018) - Transition Metals Corp. (TSXV: XTM) ("Transition" or "the Corporation") is pleased to announce that it intends to raise up to $200,000 by way of a non-brokered private placement financing consisting of up to 1,739,130 Flow Through common shares at a price of $0.115 per share.
A finder's fee may be paid in connection with the placement to finders, including affiliates of Gravitas Securities Inc., as determined by mutual agreement between the Corporation and the finders and subject to regulatory approval. The finders' fee will consist of cash equal to 5% of the shares sold to investors introduced by such finder.
Completion of the private placement will be subject to all necessary approvals, including the approval of the Exchange. There can be no assurance that the private placement will be completed as proposed or at all.
About Transition Metals Corp.
Transition Metals Corp (XTM - TSX.V) is a Canadian-based, multi-commodity project generator that specializes in converting new exploration ideas into Canadian discoveries. The award-winning team of geoscientists has extensive exploration experience in established, emerging and historic mining camps and actively develops and tests new ideas for discovering mineralization in places that others have not looked, which often allows the Corporation to acquire properties inexpensively. The team is rigorous in its fieldwork and combines traditional techniques with newer ones to help unearth compelling prospects and drill targets. Transition uses the project generator business model to acquire and advance multiple exploration projects simultaneously, thereby maximizing shareholder exposure to discovery and capital gain. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution. The Corporation has an expanding portfolio that currently includes more than 25 gold, copper, nickel and platinum projects primarily in Ontario, Nunavut, British Columbia, Nova Scotia, New Brunswick, Newfoundland and Saskatchewan.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-0590
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.
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