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May 30 (Reuters) - Philippine Metals Inc
* Philippine Metals announces corporate update
* Philippine Metals Inc - continues to work towards a resolution of outstanding legal and other issues facing its various properties in Philippines
* Philippine Metals Inc - announces planned sale of all of issued and outstanding shares of its subsidiary, Compania Minera Coronado S.A. De C.V.
* Philippine Metals - has entered into an agreement to settle $152,500 of outstanding debt obligations owed to certain members of management, board
* Philippine Metals Inc - will be proceeding with a non-brokered private placement of up to 2,000,000 units at a price of $0.05 per unit Source text for Eikon: Further company coverage: