T2 Metals raises private placement to $1.468 million

T2 Metals Corp. (TSXV: TWO) (OTCQB: TWOSF) increased its non-brokered private placement by up to $368,570 due to demand, the company announced December 3. The financing now totals up to $1.468 million.

The company will issue up to 4,562,567 hard dollar units at $0.30 per unit for gross proceeds of up to $1,368,770. The flow-through portion remains unchanged at 250,000 units priced at $0.40 each, raising up to $100,000.

Each hard dollar unit consists of one common share and half a warrant. Each full warrant allows the holder to purchase an additional common share at $0.45 for two years from closing. Flow-through units have the same structure with warrants issued on a non-flow-through basis.

T2 Metals will use proceeds to fund exploration at its Sherridon copper-gold project in Manitoba and Shanghai gold-silver project in Yukon's Tombstone Gold Belt, plus working capital. Flow-through unit proceeds will fund eligible Canadian exploration expenses qualifying as flow-through critical mineral mining expenditures for the Sherridon project.

The financing includes insider participation and potential finders' fees on portions of the placement. All securities are subject to a four-month hold period and regulatory approvals, including TSX Venture Exchange acceptance.

T2 Metals operates copper and precious metal exploration projects including Sherridon, Lida, Cora and Copper Eagle properties. The company originally announced the private placement on November 12.

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