Volcanic Metals Corp announced that it has received CAD 0.50 million in funding from Natgar Capital Corp., and other investors.
On January 16, 2014, TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction will involve participation from 18 placees including the insiders of the company. Michael Iverson, Chief Executive Officer of the company, will subscribe to 1,000,000 shares in the transaction.
On January 17, 2014, Volcanic Metals Corp closed the transaction. The transaction included participation from existing investor Natgar Capital Corp., an entity controlled by Jeff Durno, has acquired 1,200,000 units for gross proceeds of CAD 60,000 in the transaction for 9.8% stake in the company. The securities issued pursuant to the transaction are subject to a four month hold period expiring on May 18, 2014.