Group Eleven Resources ( (TSE:ZNG) ) has issued an announcement.
Group Eleven Resources Corp. has successfully closed a non-brokered private placement, raising $2.5 million through the issuance of 13,157,894 units at $0.19 each. The funds will be used for exploration activities in Ireland, particularly at the Ballywire zinc-lead-silver discovery, and for general working capital. The offering is pending final acceptance from the TSX Venture Exchange, and all issued securities are subject to a hold period until June 29, 2025. Michael Gentile, a director of the company, increased his stake by purchasing additional units, highlighting continued insider confidence in the company’s prospects.
More about Group Eleven Resources
Group Eleven Resources Corp. operates in the mining industry, focusing on the exploration and development of zinc, lead, and silver resources. The company is particularly active in Ireland, where it owns the Ballywire zinc-lead-silver discovery at the PG West Project.
YTD Price Performance: 15.00%
Average Trading Volume: 75,254
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $28.75M
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