BRIEF-Power Metals Announces $3 Million Bought Private Placement By Reuters

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BRIEF-Power Metals Announces $3 Million Bought Private Placement

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BRIEF-Power Metals Announces $3 Million Bought Private Placement

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Dec 15 (Reuters) - Power Metals Corp PWM.V :

* POWER METALS ANNOUNCES $3 MILLION BOUGHT PRIVATE PLACEMENT

* EIGHT CAPITAL HAS AGREED TO PURCHASE 6 MILLION UNITS OF COMPANY ON A "BOUGHT DEAL" PRIVATE PLACEMENT BASIS AT A PRICE PER UNIT OF $0.50

* TO USE NET PROCEEDS OF OFFERING FOR EXPLORATION AND DRILLING AT CASE LAKE PROJECT

* AS CONSIDERATION FOR ITS SERVICES, EIGHT CAPITAL WILL RECEIVE A CASH COMMISSION EQUAL TO 6% OF GROSS PROCEEDS OF OFFERING

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