Xmet Inc. announced that it has received CAD 0.44 million in funding.
On the same date, the company announced that it has closed the first tranche of the transaction.
On July 24, 2014, Xmet Inc. closed the transaction. The company announced that it has closed the second tranche of the transaction. The company announced that it has issued 2,700,000 units at a price of CAD 0.05 for gross proceeds of CAD 135,000 in the second tranche of the transaction. The company has received CAD 435,000.03 in funding from the transaction. Each Warrant is exercisable into one common share at a price of CAD 0.05 for a period ending July 23, 2019. The securities to be issued are subject to a hold period of four month expiring on November 24, 2014. Maison Placements Canada Inc. will act as agent and finder in connection with the transaction and will receive a cash commission of CAD 10,800 and compensation options to acquire 216,000 units for a period ending July 23, 2016. The company announced that TSX Venture Exchange has accepted filing documentation with respect to the second tranche of the transaction. The company issued 2,700,000 units to one placee.