Black Mammoth Metals (TSE:BMM) has released an update.
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Black Mammoth Metals Corporation has successfully completed a private placement, raising $2.8 million through the issuance of 5.6 million units at $0.50 each to fund its mining projects in Nevada and California, repay long-term debt, and consider potential acquisitions. The units, comprising shares and half warrants, are subject to a four-month hold period, with warrants exercisable at $0.75 for two years. Insider participation in the transaction has been noted and deemed exempt from certain formalities by regulatory standards.
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