Defense Metals Corp. Closes Private Placement
Not for distribution to United States newswire services or for dissemination in the United States
DEFENSE METALS CORP. CLOSES PRIVATE PLACEMENT
News Release - Vancouver, British Columbia – January 8, 2021: Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce that on January 8, 2021 it closed a non-brokered private placement (the “Private Placement”) of 1,000,000 units (each a “Unit”). The Private Placement was completed at a price of $0.20 per Unit for gross proceeds of $200,000. Each Unit is comprised of one common share and one transferable common share purchase warrant (“Warrant”). Each Warrant is exercisable to purchase one common share of the Company at a price of $0.30 per share for a period of 12 months from the date of closing the Private Placement.
All securities issued pursuant to the Private Placement are subject to a four month hold period from the closing date in accordance with applicable securities laws. The proceeds from the Private Placement will be used for working capital and work on the Company’s Wicheeda rare earth element project located in Prince George, British Columbia.
About Defense Metals Corp.
Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of “GREEN” energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.
For further information, please visit https://defensemetals.com/ or contact:
Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations Tel: (778) 994 8072 Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
Cautionary Statement Regarding Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, use of funds from the Private Placement, future work on the Company’s projects, and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forwardlooking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies, including the price of REE, the ability to achieve its goals, and that general business and economic conditions will not change in a material adverse manner. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company’s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to maintain all necessary government permits, decrease in the price of REE, adverse weather conditions, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, approvals and authorizations, and failure to maintain community acceptance (including First Nations). The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.