EMC Metals Corp.(TSX:EMC) announced the completion of a private placement for gross proceeds of $700,777.
As quoted in the press release:
The proceeds from the financing will be used for general working capital and re-start work on the Springer Tungsten mine in Imlay, Nevada.
All securities issued under the private placement are subject to a Canadian hold period expiring four months after the closing date. The securities are also subject to restrictions on resale under U.S. federal securities laws.