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More exploration dollars headed for West Timmins as Affinity Metals Corp. announces $400,000 flow-through placement

Aug 4, 2020

Affinity Metals Corp. is looking to raise more money to explore West Timmins.  The company has announced it proposes to undertake a non-brokered private placement of flow-through units for proceeds of up to $400,000.05. The gross proceeds will be used for work programs on the company's exploration properties.

Each FT Units will be sold at a price of $0.45 per FT Unit and will be comprised of one flow-through common share and one non-transferable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one non-flow-through common share for a period of 18 months at a price of $0.65.

The Company may pay finders' fees comprised of cash and/or non-transferable warrants in connection with the Offering, subject to compliance with the policies of the TSX Venture Exchange. All securities issued and sold under the Offering will be subject to a hold period expiring four months and one day from their date of issuance. Completion of the Offering and the payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. 

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.

Affinity is advancing the Regal and West Timmins Gold projects.

The Regal is located near Revelstoke, British Columbia, Canada in the northern end of the prolific Kootenay Arch and hosts two major geophysical anomalies as well as three past producing mines. 

The West Timmins Gold property is located near Timmins, Ontario, Canada 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.

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