Fox River Resources (TSE:FOX) has released an update.
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Fox River Resources has successfully closed a non-brokered private placement, raising $3 million by issuing 7.5 million common shares. The funds will be used to advance the Martison Phosphate Project in Ontario, focusing on ore variability, metallurgical testing, and a fertilizer conversion complex. This move strengthens the company’s financial position with an unaudited cash balance of approximately $6.3 million.
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