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Rain City Resources ( (TSE:RAIN) ) has shared an announcement.
EMP Metals Corp. has closed an amended US$3 million convertible loan agreement with Tembo Capital that extends the loan’s maturity to June 30, 2027 and allows Tembo to convert principal and accrued interest into common shares at C$0.425 per share, with interest set at 13.5% annually. As part of the deal, Tembo received 485,294 common share purchase warrants as an arrangement fee, bringing its combined holdings with an affiliate to 23,858,680 shares, 2,783,294 warrants and the convertible loan, representing about 19.63% ownership on a non-diluted basis and roughly 24.59% on a partially diluted basis; the transaction underscores Tembo’s role as a key strategic investor and provides EMP Metals with increased financial flexibility to advance its lithium exploration and development activities.
Spark’s Take on TSE:RAIN Stock
According to Spark, TipRanks’ AI Analyst, TSE:RAIN is a Neutral.
The score is held back primarily by weak financial performance (pre-revenue, widening losses, and elevated free-cash-flow burn). Technicals are moderately supportive with the price trading above major moving averages, while corporate events provide a positive near-term funding and project-progress backdrop but with dilution/financing-cost tradeoffs. Valuation remains constrained by negative earnings and no dividend.
To see Spark’s full report on TSE:RAIN stock, click here.
More about Rain City Resources
EMP Metals Corp. is a Canadian-based lithium exploration and development company focused on large-scale resources in southern Saskatchewan, where it controls more than 205,000 net acres of subsurface dispositions and strategic wellbores. The company is advancing its projects using direct lithium extraction (DLE) technology, positioning itself within the growing battery metals and energy transition supply chain.
Average Trading Volume: 437,877
Technical Sentiment Signal: Sell
Current Market Cap: C$828.3K
For an in-depth examination of RAIN stock, go to TipRanks’ Overview page.