BTU Metals Corp. Closes Over-Subscribed Flow Through Financing

Vancouver-based BTU Metals Corp. announced the closure of its over-subscribed non-brokered private placement, raising $885,000 through the issuance of 17.7 million flow-through shares at $0.05 each. The capital raised will support BTU's exploration projects in Ontario's Red Lake and Wawa mining districts.

Participants received one common share and half a purchase warrant per flow-through unit. Each whole warrant enables the purchase of an additional BTU share at $0.09 within a year. Additionally, eligible finders received $58,450 in cash and 1,106,000 common share warrants with a $0.05 exercise price, valid for a year. The offering awaits TSX Venture Exchange approval.

CEO Paul Wood noted the strong market support for BTU's projects, expressing optimism for future advancements. Issued securities are subject to a four-month holding period.