VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 10, 2017) – Scientific Metals Corp. (“STM” or the “Company“) (TSX VENTURE:STM)(FRANKFURT:26X)(OTCQB:SCTFF) is pleased to announce that the Company’s previously announced non-brokered private placement of units (each, a “Unit“) has been completed. The Company issued 10,000,000 Units at a price of $0.20 per Unit and an additional 2,173,913 Units at a price of $0.23 per unit for aggregate gross proceeds of $2,500,000. Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.40 per share at any time within 18 months of the date of issuance. In connection with the completion of this private placement, the Company paid aggregate cash finder’s fees in the amount of $82,810 and issued an aggregate of 412,545 finder’s fee warrants to eligible finders who introduced subscribers to the private placement. Each finder’s fee warrant entitles the holder to purchase one common share at a price of $0.40 per share at any time within 18 months of the date of issuance. All of the securities issued under this private placement are subject to a four month resale restriction.
