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Arctic Fox Minerals Corp. ( (TSE:COMT) ) has provided an announcement.
Collective Metals Inc. has closed the first tranche of its non-brokered flow-through private placement, raising gross proceeds of $1,075,000 through the issuance of 5,375,000 flow-through units at $0.20 each. Each unit consists of one flow-through common share and half a warrant, with full warrants exercisable at $0.25 for 24 months, while all securities are subject to a four-month-plus-one-day hold period.
The company intends to use the proceeds to fund qualifying Canadian exploration expenses at its Rocas Uranium Project in Saskatchewan, with these expenditures to be renounced to investors effective December 31, 2026. The financing, which also included cash finder’s fees and finder’s warrants, strengthens Collective Metals’ ability to advance uranium exploration at Rocas and potentially enhance its positioning within the Canadian critical metals and uranium exploration sector.
More about Arctic Fox Minerals Corp.
Collective Metals Inc. is a North American resource exploration company focused on critical and precious metals. Its flagship Rocas Uranium Project in Saskatchewan spans 4,002 hectares near the Athabasca Basin, hosting several uranium showings with historical surface samples grading up to 0.5 wt.% U3O8, none of which have yet been drill-tested.
Average Trading Volume: 144,957
Technical Sentiment Signal: Buy
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