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The latest announcement is out from Chibougamau Independent Mines ( (TSE:CBG) ).
Chibougamau Independent Mines has completed a flow-through private placement, issuing 689,655 flow-through shares at $0.29 per share to raise approximately $200,000. The company plans to use the proceeds to fund exploration work on its Lac Chibougamau property in Québec, potentially advancing its exploration pipeline and project development. Following the financing, Chibougamau has 61,755,191 common shares issued and outstanding, and the new shares are subject to a four-month hold period, affecting short-term liquidity for the participating investors but providing dedicated capital for ongoing exploration activities.
More about Chibougamau Independent Mines
Chibougamau Independent Mines Inc. is a Canadian mineral exploration company focused on advancing its Lac Chibougamau property in Québec. The company is listed on the TSX Venture Exchange in Canada, several German exchanges, and the OTC market in the United States, giving it access to a broad base of international investors interested in early-stage mining and exploration opportunities.
Average Trading Volume: 34,854
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$14.66M
For an in-depth examination of CBG stock, go to TipRanks’ Overview page.