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Hm Exploration Corp. ( (TSE:HM) ) just unveiled an update.
HM Exploration Corp. has closed a non-brokered private placement, issuing 3,333,334 units at $0.18 per unit for gross proceeds of approximately $600,000, with each unit consisting of one common share and half a warrant exercisable at $0.25 for 36 months. The funds will support exploration on the company’s Canadian mineral properties and general working capital, while a concurrent grant of 1.3 million stock options to directors, management and consultants at $0.25 per share over five years underscores efforts to align incentives and strengthen its capital structure as it advances the Devil’s Den and Pilley’s Island projects.
More about Hm Exploration Corp.
HM Exploration Corp. is a Canadian mineral exploration company focused on acquiring and developing mineral projects in Canada. The company is advancing the Devil’s Den Project on Vancouver Island, an exploration-stage property with multiple historical adits and undrilled high-grade surface occurrences, and holds an option to acquire the Pilley’s Island Copper Project in Newfoundland, which hosts a cluster of VMS systems and prospects with high-grade zinc, lead, copper and silver intersections.
Average Trading Volume: 22,899
Technical Sentiment Signal: Strong Buy
See more insights into HM stock on TipRanks’ Stock Analysis page.