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Fredonia Mining Inc ( (TSE:FRED) ) just unveiled an update.
Fredonia Mining Inc. has upsized its previously announced best-efforts private placement to raise up to C$6 million through the issuance of 15 million units at C$0.40 per unit, each comprising one common share and one-half common share purchase warrant exercisable at C$0.56 for 36 months. The company has also granted Cormark Securities, acting as sole agent, an option to increase the financing by up to an additional C$1 million, with closing expected around early February 2026, subject to standard conditions and regulatory approvals; net proceeds will be directed toward exploration and advancement of the El Dorado Monserrat Project in Argentina and for general corporate and working capital needs, potentially strengthening Fredonia’s project pipeline and funding position in the junior mining sector.
More about Fredonia Mining Inc
Fredonia Mining Inc. is a Toronto-based mineral exploration company listed on the TSX Venture Exchange, focused on advancing its El Dorado Monserrat gold and silver project in the Santa Cruz province of Argentina. The company’s activities center on exploration and project development, funded primarily through equity financings in the Canadian capital markets and select international jurisdictions.
Average Trading Volume: 16,202
Technical Sentiment Signal: Sell
Current Market Cap: C$19.38M
See more data about FRED stock on TipRanks’ Stock Analysis page.