Defense Metals Corp. Announces Closing of its $12.5 Million Private Placement, Including $6.6 Million Strategic Financing with RCF Opportunities Fund II L.P.
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VANCOUVER, BC, May 25, 2023 /PRNewswire/ – Defense Metals Corp. (“Defense Metals” or the “Company“); (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce that, further to its news release of April 27, 2023, it has closed its non-brokered private placement financing (the “LIFE Offering“) of 22,367,977 common shares of the Company (“Common Shares“) at a price of $0.26 per Common Share, and the Concurrent Placement (as defined below) of 25,708,946 Common Shares at the same issue price, for aggregate gross proceeds of C$12.5 million (the Life Offering, collectively with the Concurrent Placement, the “Offering“). The Concurrent Placement includes a lead order from RCF Opportunities Fund II L.P. (“RCF Opps II“), consisting of 25,552,380 Common Shares for gross proceeds of C$6.6 million. John Robins of Discovery Group and Strategic Advisor to the Company, also participated in the Offering.