Metalsource Mining raises $7.5 million in private placement

Metalsource Mining Inc. (CSE: MSM) (OTCQB: SFRIF) (FSE: E9Z) announced a non-brokered private placement financing of up to $7.5 million. The Vancouver-based mineral exploration company plans to issue up to 10.05 million units at $0.75 per unit to a single investor.

Each unit consists of one common share and one-half of a transferable warrant. The warrants allow holders to purchase additional common shares at $1.00 per share for three years following issuance.

The securities will be subject to statutory hold periods under Canadian securities laws. The offering requires regulatory approvals, including from the Canadian Securities Exchange.

Metalsource Mining focuses on mineral exploration in Canada, advancing what it describes as high-potential mineral assets through exploration programs.

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