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Kootenay Silver ( (TSE:KTN) ) has provided an update.
Kootenay Silver Inc. has arranged a bought-deal private placement with Red Cloud Securities and a syndicate of underwriters to raise approximately C$10 million through the sale of 4,444,445 common shares at C$2.25 each, with an over-allotment option for an additional 666,667 shares that could lift total gross proceeds by about C$1.5 million. The financing, conducted under the listed issuer financing exemption in most Canadian provinces and placed privately in the United States and other jurisdictions, is intended to fund advancement of the Columba and La Cigarra silver projects in Mexico and support general working capital, underscoring Kootenay’s strategy to accelerate development of its key assets and strengthen its position in the junior silver exploration sector, subject to customary closing conditions and TSX Venture Exchange approval.
The most recent analyst rating on (TSE:KTN) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Kootenay Silver stock, see the TSE:KTN Stock Forecast page.
Spark’s Take on TSE:KTN Stock
According to Spark, TipRanks’ AI Analyst, TSE:KTN is a Neutral.
The score is held back mainly by weak financial performance (no revenue, ongoing losses, and worsening free cash flow burn), partially offset by strong technical momentum and a positive exploration catalyst from recent drilling results. Valuation is also constrained by negative earnings and no stated dividend support.
To see Spark’s full report on TSE:KTN stock, click here.
More about Kootenay Silver
Kootenay Silver Inc. is a mineral exploration company focused on the discovery and development of silver projects in Mexico’s Sierra Madre region. Backed by one of the largest junior silver asset portfolios in the country, the company targets the expansion of existing silver resources, new discoveries and the near-term economic development of priority projects in the prolific mining districts of Sonora and Chihuahua, offering shareholders leveraged exposure to silver prices.
Average Trading Volume: 469,474
Technical Sentiment Signal: Buy
Current Market Cap: C$227.9M
See more data about KTN stock on TipRanks’ Stock Analysis page.