Zazu Metals Corporation (TSX:ZAZ) has announced the completion of a non-brokered private placement.
Zazu placed 5,000,000 shares at C$0.45 for gross proceeds of C$2,250,000. Zazu also issued 350,000 purchase warrants to a finder entitling the finder to purchase 1 share per warrant at $0.55 per share, expiring 18 months after closing.
The proceeds will be used to complete a suite of studies on the Lik Deposit with the intent of advancing the project to feasibility as rapidly as possible as well as general corporate overhead. All securities issued pursuant to this private placement are subject to a hold period of four months from closing.
On a post closing basis, Zazu has 35,663,771 common shares issued and outstanding.
Source: Zazu Metals Corporation