VANCOUVER, BRITISH COLUMBIA–(Marketwired – May 18, 2017) – Scientific Metals Corp. (“STM” or the “Company“) (TSX VENTURE:STM)(FRANKFURT:26X)(OTCQB:SCTFF) is pleased to announce that it has completed the non-brokered private placement of units (each, a “Unit“) previously announced on May 17, 2017. The Company issued a total of 2,000,000 Units at a price of $0.85 per Unit for gross proceeds of $1,700,000. Each Unit is comprised of one common share in the capital of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $1.10 per share at any time within 24 months of the date of issuance of the warrant. A director and officer of the Company participated in the private placement and acquired a total of 970,000 Units. All of the securities issued under the private placement are subject to a four month resale restriction. The private placement remains subject to the final approval of the TSX Venture Exchange.
