Domestic Metals names Gordon Neal to board, raises $1.3M

Domestic Metals Corp. (TSXV: DMCU) appointed Gordon Neal to its board of directors effective October 3 and closed the first tranche of its equity offering, raising $1,314,800.

Neal brings experience from leadership roles at multiple mining companies, including serving as CEO of Tincorp Metals Inc. and president of New Pacific Metals Corp. He previously held vice president positions at Mag Silver Corp. and Silvercorp Metals Inc., and served on boards of companies including Falco Resources Ltd. and World Copper Ltd.

Before entering the metals industry, Neal founded Neal McInerney Investor Relations in 1991, which marketed over $4 billion in debt and equity financings and became Canada's second-largest full-service investor relations firm.

The company issued 4,695,715 units at $0.28 per unit in the first tranche of its LIFE offering. Each unit includes one common share and one warrant exercisable at $0.40 per share for three years. The warrants may be accelerated if the company's share price reaches $0.65 or higher for 20 consecutive trading days.

Finders received 6% cash commissions and 7% broker warrants. Harbourfront Wealth Management received $45,360 and 189,000 warrants, while CapSolutions received $30,000 and 125,000 warrants.

The company plans to close subsequent tranches by October 17. All securities carry a four-month hold period and require final approval from the TSX Venture Exchange. Proceeds will fund working capital and exploration activities.

Domestic Metals focuses on copper and gold exploration in the Americas, with its Smart Creek Project located in Montana containing copper mineralization and multiple exploration targets.

You May Also Be Interested In

• Goldman Sachs to acquire Neos for up to $2.25b cash and stock
• Teck secures bondholder consent for note amendments tied to merger
• Madrigal Pharmaceuticals adds J&J executive to its board