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The latest announcement is out from Hilo Mining Ltd ( (TSE:FIN) ).
Grit Metals Corp. announced a non-brokered private placement of up to 10,000,000 units at $0.10 per unit, aiming to raise $1,000,000. The proceeds will be used for working capital and general corporate purposes. The offering, expected to close in December 2025, is contingent on TSX Venture Exchange approval and will involve restrictions on resale for four months and one day. Insider participation is anticipated, which will be considered a related party transaction under MI 61-101, but exemptions will be applied due to the fair market value being below 25% of the company’s market capitalization.
More about Hilo Mining Ltd
Grit Metals Corp. is a junior mining company focused on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. The company is strategically positioned near the Keliber mine and production complex, which is under construction and expected to commence production in the second half of 2025. This project is part of a significant €600 million investment by Sibanye-Stillwater Limited and the Finnish Minerals Group, aimed at developing a comprehensive lithium supply chain.
Average Trading Volume: 18,810
Technical Sentiment Signal: Hold
Current Market Cap: C$6.62M
For detailed information about FIN stock, go to TipRanks’ Stock Analysis page.