Volcanic Metals Corp announced that it has received CAD 0.13 million in funding.
On January 23, 2013, the TSX Venture Exchange accepted for filing documents with respect to 13,400,000 units to be issued to 18 placees. Michael Iverson, Lagourgue Holdings Ltd., Redfern Consulting Ltd., and Larry Yopyk will participate for 1,850,000 units, 510,000 units, 260,000 units, and 510,000 units respectively.
On January 24, 2013, Volcanic Metals Corp closed the transaction. The company issued 13,400,000 units for gross proceeds of CAD 134,000. The securities issued will be subject to a hold period expiring on May 25, 2013. Pursuant to the transaction, Michael Iverson, Chief Executive Officer of the company, acquired 1,850,000 units and now holds 9.2% stake in the company on non-diluted basis.