Abacus Mining Launches $400K Private Placement

Abacus Mining & Exploration (TSE:AME) has released an update.

Abacus Mining & Exploration Corporation is set to raise $400,000 through a private placement of 20 million units at $0.02 each to fund exploration and general working capital, including a payment for the Nev-Lorraine property. The units include a common share and a purchase warrant, with the latter exercisable at $0.05 for three years post-closing. The funds will also support the company’s interests in the Ajax copper-gold development project in B.C. and properties in Nevada.

For further insights into TSE:AME stock, check out TipRanks’ Stock Analysis page.