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Hilo Mining Ltd ( (TSE:FIN) ) has shared an update.
Grit Metals Corp. has closed a non-brokered private placement, raising gross proceeds of $1,004,000 through the issuance of 10,040,000 units priced at $0.10, each comprising one common share and a half warrant exercisable at $0.25 until January 2028. The funds will be used to advance development of its Finnish Pegmatite Project and for working capital, with insider participation qualifying as a related-party transaction under securities rules but exempt from valuation and minority approval requirements, while the financing reinforces Grit’s capacity to progress its lithium-focused exploration activities in a strategically important European battery metals region.
More about Hilo Mining Ltd
Grit Metals Corp. is a junior mining company focused on its Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland, situated near the Keliber mine and production complex currently under construction. Operating within a region targeted by European and Finnish policies for environmentally friendly, energy-independent supply chains, the company is positioned in an emerging hub for hard-rock spodumene pegmatite lithium production, supported by significant ongoing investment in regional mining and processing infrastructure.
Average Trading Volume: 56,940
Technical Sentiment Signal: Hold
Current Market Cap: C$8.01M
See more data about FIN stock on TipRanks’ Stock Analysis page.