Western Magnesium raises $3.11M from warrant conversion

Mar 2, 2020

2020-03-02 12:19 ET – News Release

Mr. David Melles reports

WESTERN MAGNESIUM RAISES $3,118,312 FROM WARRANT CONVERSION

Western Magnesium Corp. has successfully raised proceeds from its most recent warrant call. Existing shareholders exercised a total of 23,858,942 warrants for gross proceeds of $3,118,312.

The warrants that were called Jan. 19, 2020, expired as of 5 p.m. PT on Feb. 19, 2020. The breakdown of those warrants is as follows:

Seven-cent warrants which were set to expire at 5 p.m. PT on May 7, 2020;
Eight-cent warrants which were set to expire at 5 p.m. PT on Oct. 3, 2020, Nov. 29, 2020, Jan. 22, 2021, March 28, 2021, and May 13, 2021.

The unexercised warrants pertaining to the dates above are void as of Feb. 19, 2020, and are no longer exercisable.

Proceeds from the warrant exercise will be used to expand the company’s technical team as it focuses on the buildout of the first planned commercialized pilot.

About Western Magnesium Corp.

Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and lightweight qualities.

We seek Safe Harbor.

https://westmagcorp.com/