Affinity Metals closes flow-throughs for work on West Timmins
Affinity Metals has completed the closing of its over-subscribed non-brokered $0.45/flow-through unit private placement previously announced on August 4, 2020, and has issued 1,022,229 flow-through units for gross proceeds of $460,003.05. The West Timmins Gold property is located near Timmins and adjoins Melkior's Carscallen project. The first drill hole has been completed and the core is now being logged, split and sampled in preparation for assaying.
Affinity is advancing the Regal and West Timmins Gold projects. The Regal is located near Revelstoke, British Columbia and hosts two major geophysical anomalies as well as three past producing mines.
About Affinity Metals
Affinity is focused on the acquisition, exploration and development of strategic metal deposits within North America. Affinity is following the Project Generator model.
In connection with this private placement, the Company paid finder's fees totaling $28,000 cash and 62,222 compensation warrants, with each warrant being exercisable for one common share at a price of $0.65 for 18 months. All securities issued under this financing are subject to a four month hold period expiring December 12, 2020, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
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