A Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors is pleased to announce two investments, for a total of $530,000 in Electric Metals (USA) Ltd.
Electric Metals is a multi-commodity resource company focused on their 100% owned Corcoran Canyon Silver Project in Nevada and Emily Manganese Project in Minnesota, according to the release. ThreeD Capital Inc. (CSE:IDK) (OTCQB:IDKFF) acquired the securities of Electric Metals through two private placements detailed below per the announcement.
The first private placement was relatively straight forward, as ThreeD acquired 1,000,000 shares at a price of $0.20/share. The second was a bit more intricate, as 1,000,000 subscription receipts were acquired at a price of $0.33/sub receipt, which entitled the ThreeD to one share of common stock and one-half of a common stock purchase warrant that is exercisable at a price of $0.60/warrant with a two-year expiry.
Traders seemed to be excited on the news as shares traded up to $0.61/share (+4.87%) OTC and opened up on the CSE at $0.77/share (+2.67%). This move in a strong continuation of the success that this stock has had over the course of the last year.
