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Hilo Mining Ltd ( (TSE:FIN) ) just unveiled an update.
Grit Metals Corp. has announced a debt settlement agreement with Vector Geological Solutions Inc., which involves issuing 625,000 common shares to settle $75,000 in outstanding debt for geological consulting services. This move is aimed at preserving cash for working capital and strengthening the company’s balance sheet, subject to TSX Venture Exchange approval. The settlement is part of Grit Metals’ broader strategy to enhance its financial stability as it continues to focus on its Finnish Pegmatite Project, a key component in the European push for energy independence and environmental sustainability.
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 begin production in the second half of 2025. This project aligns with European and Finnish legislative efforts towards environmentally friendly and energy-independent policies, particularly in securing access to rare earth elements like lithium.
Average Trading Volume: 24,561
Technical Sentiment Signal: Sell
Current Market Cap: C$6.62M
See more insights into FIN stock on TipRanks’ Stock Analysis page.