Vancouver-based First Tellurium Corp. (CSE: FTEL, OTC: FSTTF) has announced an increase in the amount of its non-brokered private placement. The company will now offer up to 13,000,000 units at a price of $0.11 per unit, resulting in gross proceeds of up to $1,430,000. Each unit will consist of one common share and one-half of one warrant, exercisable for two years at $0.15 per warrant.
In addition to the sale of units, First Tellurium Corp. plans to raise up to $1,400,000 through the sale of up to 10,000,000 flow-through common shares at a price of $0.14 per share. The company may also pay a finder’s fee to eligible finders in accordance with applicable securities laws and CSE policies.
The proceeds from the sale of flow-through shares will be used for exploration expenditures on the Deerhorn Property, while the proceeds from the sale of units will be utilized for exploration on the Colorado Klondike Property and for unallocated working capital.
First Tellurium Corp. is focused on mineral discovery, project development, and the development of tellurium-based technologies. The company is committed to supporting the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples, including the fundamental proposition of free, prior, and informed consent.
For more information about First Tellurium Corp. and its projects, please visit www.firsttellurium.com.