Transition Metals Corp. Closes Second Tranche of Private Placement
Transition Metals Corp. Closes Second Tranche of Private Placement
Sudbury, Ontario, December 14, 2017 – Transition Metals Corp. (XTM – TSX.V)
(“ Transition ” or “ the Corporation ”) announces that it has closed the second tranche of the
previously announced non-brokered private placement financing of 3,666,667 units (the “ Units ”)
of the Corporation at a price of $0.15 per Unit, fo r gross proceeds of up to $550,000.05. Each
Unit consisted of one common share of the Corporati on (a “ Common Share ”) and one
transferable share purchase warrant (each, a “ Warrant ”). Each Warrant entitles the holder to
purchase one additional Common Share for a period o f 24 months from closing at a price of
$0.20. If, after April 15, 2018, the closing price of the Common Shares on the TSX Venture
Exchange (the “ Exchange ”) is higher than $0.30 for 20 consecutive trading days, based on the
Volume Weighted Average Price on daily closing, the n on the date that is the 20th consecutive
trading day (the “ Acceleration Trigger Date ”) the expiry date of the Warrants will be
accelerated to the date that is 20 business days af ter the Acceleration Trigger Date provided the
Corporation, within three trading days of the Accel eration Trigger Date, issues a news release
announcing the acceleration of the expiry date and delivers or sends by electronic transmission a
copy of such news release to the Warrant holders and the finders.
The private placement has been over-subscribed with a total of 7,737,698 Units for gross
proceeds of $1,160,654.70 issued under both tranches.
A finder’s fee was not paid in connection with the second tranche of the private placement.
Proceeds from the private placement will be used fo r exploration and working capital purposes.
All securities issued in connection with the second tranche of the private placement are subject to
a four month Canadian restricted resale period that expires, with respect to resales in Canada, on
April 15, 2018 and applicable securities legislation hold periods outside of Canada.
About Transition Metals Corp.
Transition Metals Corp (XTM - TSX.V) is a Canadian-based, multi-commodity project generator
that specializes in converting new exploration idea s into Canadian discoveries.
The award-winning team of geoscientists has extensi ve exploration experience in established,
emerging and historic mining camps and actively dev elops and tests new ideas for discovering
mineralization in places that others have not looke d, which often allows the Corporation to
acquire properties inexpensively. The team is rigo rous in its fieldwork and combines traditional
techniques with newer ones to help unearth compelli ng prospects and drill targets. Transition
uses the project generator business model to acquir e and advance multiple exploration projects
simultaneously, thereby maximizing shareholder expo sure to discovery and capital gain. Joint
venture partners earn an interest in the projects b y funding a portion of higher-risk drilling and
exploration, allowing Transition to conserve capita l and minimize shareholder’s equity dilution.
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The Corporation has an expanding portfolio that cur rently includes more than 25 gold, copper,
nickel and platinum projects primarily in Ontario, Nunavut, British Columbia, Minnesota and
Saskatchewan.
Further information is available at www.transitionmetalscorp.com or by contacting:
Scott McLean
President and CEO
Transition Metals Corp.
Tel: (705) 669-0590
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 release.
THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT
FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SEC URITIES DESCRIBED HEREIN. THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITE D STATES SECURITIES ACT OF 1933,
AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY N OT BE OFFERED OR SOLD IN THE
UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATIO N OR APPLICABLE EXEMPTION FROM
REGISTRATION REQUIREMENTS.