On November 23, 2021, Western Metallica Corp. (“Western Metallica”) closed a brokered private placement (the “Offering”) of subscription receipts (“Subscription Receipts”). Under the Offering, Western Metallica issued 26,667,000 Subscription Receipts at a price of $0.30 per Subscription Receipt for gross proceeds to Western Metallica of approximately $8 million.
The Offering was completed in connection with a reverse take-over of Orcus Resources Ltd. (“Orcus”), a capital pool company listed in the TSX Venture Exchange, by shareholders of Western Metallica.
The Offering was completed pursuant to an agency agreement among Halcones, Orcus and Clarus Securities Inc.
Miller Thomson advised Western Metallica in respect of the Offering with a team comprised of Mack Hosseinian and Christopher Fallis (Capital Markets & Securities) as well as Regan O’Neil (Corporate Tax).
