Collective Metals Raises $1.44 Million in Private Placement to Support Exploration Work

Arctic Fox Minerals Corp. ( (TSE:COMT) ) has shared an announcement.

Collective Metals Inc. has closed a non-brokered private placement, issuing 16,925,479 units at $0.085 per unit for total gross proceeds of approximately $1.44 million. Each unit consists of one common share and one transferable warrant exercisable at $0.105 for 24 months, with an acceleration clause if the share price trades at or above $0.20 for 10 consecutive days, and finders received cash fees and warrants on comparable terms. The capital raised, which is subject to a four-month-plus-one-day hold period, will be used for general working capital purposes, strengthening the company’s financial position as it advances its North American critical and precious metals exploration portfolio, including the uranium-prospective Rocas project near the Athabasca Basin.

More about Arctic Fox Minerals Corp.

Collective Metals Inc. is a North America-focused resource exploration company specializing in critical and precious metals. Its flagship Rocas project in Saskatchewan covers 4,002 hectares near the Athabasca Basin and hosts several historical uranium showings over roughly 900 metres of strike, including outcrop grab samples grading up to 0.5 wt.% U3O8, none of which have been drill-tested.

Average Trading Volume: 151,405

Technical Sentiment Signal: Buy

For an in-depth examination of COMT stock, go to TipRanks’ Overview page.