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Burin Gold Corp. ( (TSE:INFM) ) has shared an update.
Infinico Metals Corp., a company involved in the mineral exploration sector, has announced a non-brokered private placement financing to raise up to $200,000 through the sale of 20,000,000 pre-consolidation shares at $0.01 per share. The proceeds will be used for general working capital, subject to regulatory approval. Additionally, the company has appointed Sam Walding and Manish Z. Kshatriya to its Board of Directors, bringing extensive experience in mineral exploration and corporate finance, respectively. The company also plans a share consolidation at a ratio of up to 15-for-1 to facilitate future financing and business development, reducing its shares from 68,023,240 to approximately 4,534,882 post-consolidation.
More about Burin Gold Corp.
Average Trading Volume: 199,670
Technical Sentiment Signal: Sell
Current Market Cap: C$680.2K
Learn more about INFM stock on TipRanks’ Stock Analysis page.