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J2 Metals Incorporation ( (TSE:JTWO) ) has issued an update.
J2 Metals Inc. plans to raise up to $2.5 million through a non-brokered private placement of 10 million subscription receipts priced at $0.25 each, with each receipt convertible into one common share and half a warrant exercisable at $0.40 for 24 months, subject to escrow release conditions and regulatory approvals. The financing, which excludes participation in the nearly completed spinout of the Twenty Mile project, is designed to strengthen the company’s balance sheet for general corporate purposes as it advances its portfolio of gold, silver and critical mineral projects in Canada, the United States and Mexico, including the newly optioned Sierra Plata asset that management views as a key growth driver.
More about J2 Metals Incorporation
J2 Metals Inc. is a Vancouver-based mineral exploration company focused on advancing precious metals and critical minerals projects across Quebec, Mexico and Alaska, including gold assets in the Abitibi Greenstone Belt and Alaska’s Fortymile District, and the recently optioned Sierra Plata silver-gold project in Mexico’s Royal Mines of Zacualpan District.
Average Trading Volume: 45,350
Technical Sentiment Signal: Buy
Current Market Cap: C$4.83M
For detailed information about JTWO stock, go to TipRanks’ Stock Analysis page.