June 10th, 2020, Vancouver, BC, Canada – BTU METALS CORP. (“BTU” or the “Company”) (BTU-TSX:V) is pleased to announce that further to its press releases dated June 8th, 2020 the Company has closed the non-brokered private placement. The Company issued 2.6 million common share units (the “Units”) at a price of $0.20 per Unit for aggregate gross proceeds of $520,000. Each Unit consists of one common share and one-half warrant. Each full warrant entitles the subscriber to purchase one common share of the Company at a price of $0.30 for a period of 3 years from the date of closing.
Proceeds raised will be used for advancing the Company’s Dixie Halo Property in Red Lake, Ontario where drilling is currently underway at the TNT VMS target and for general working capital.
Finders’ fees of $4,800 were paid to an arm’s length party.
The shares and warrants comprising the units and the finder’s warrants are subject to a 4 month hold period expiring October 10th, 2020.
The Private Placement is subject to TSX Venture Exchange final approval.
BTU Metals Corp. is a publicly traded junior, mining exploration company focused in the Red Lake district of Ontario, Canada. BTU currently holds or has under option approximately 200 sqkm of exploration properties continuous to Great Bear Resources in the Red Lake, Ontario area. BTU is actively exploring two key targets; the Dixie Creek prospect, a high-grade gold target immediately south of GBR and the TNT prospect, a very large potential-VMS systems towards the south on the properties. For more information please visit www.BTUMetals.com.
ON BEHALF OF THE BOARD
Paul Wood, CEO, Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Andreas Curkovic, Investor Relations
BTU Metals Corp.
Toll Free: 1-888-945-4770