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The latest announcement is out from Hi-View Resources Inc ( (TSE:HVW) ).
Hi-View Resources Inc. has closed the second and final tranche of its non-brokered private placement, issuing 3,875,000 units at $0.20 each for gross proceeds of $775,000, oversubscribed by $100,600. Each unit comprises one common share and one transferable warrant, with two warrants exercisable for one additional share at $0.30 over 24 months, and all securities are subject to a four-month-plus-one-day hold. The company plans to use the proceeds for general corporate purposes, including arm’s-length payables, while paying $44,240 in finders’ fees and issuing 221,200 broker warrants on similar terms, and it has also strengthened its balance sheet by settling $146,161.60 of related-party debt through the issuance of 730,808 common shares at $0.20. The financing and debt settlement bolster Hi-View’s working capital position as it advances its exploration portfolio in British Columbia, potentially improving financial flexibility and aligning insiders and investors ahead of further project development.
Spark’s Take on TSE:HVW Stock
According to Spark, TipRanks’ AI Analyst, TSE:HVW is a Neutral.
Hi-View Resources Inc. faces significant financial challenges with no revenue and negative earnings. While the balance sheet is strong, persistent cash flow issues pose risks. Technical analysis indicates weak momentum, and valuation metrics are unattractive. However, strategic corporate events provide a glimmer of hope for future operational improvements, which could enhance the company’s outlook.
To see Spark’s full report on TSE:HVW stock, click here.
More about Hi-View Resources Inc
Hi-View Resources Inc. is a publicly listed mineral exploration company on the Canadian Securities Exchange focused on advancing a portfolio of gold, silver and copper assets in the Toodoggone region of Northern British Columbia. Its 100%-owned and optioned projects span more than 27,791 hectares, anchored by the flagship Golden Stranger project along with the Lawyers claims and Borealis project, complemented by additional high-priority properties such as Saunders, Northern Claims, Nub and Harmon Peak, plus further ground under mineral claim application.
Average Trading Volume: 30,832
Technical Sentiment Signal: Sell
Current Market Cap: C$3.02M
See more insights into HVW stock on TipRanks’ Stock Analysis page.