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The latest announcement is out from Medaro Mining ( (TSE:MEDA) ).
Medaro Mining Corp. has successfully closed the first tranche of its non-brokered private placement, raising $181,000 through the issuance of 2,262,500 common shares at $0.08 per share. The net proceeds of $143,000 will be used for potential acquisitions and general working capital, while a portion was used to settle a debt with Treewalk Ventures Inc., a consulting company controlled by the company’s CFO, Alexander McAulay. This transaction is considered a related party transaction under Canadian securities regulations, but it adheres to the necessary exemptions.
Spark’s Take on TSE:MEDA Stock
According to Spark, TipRanks’ AI Analyst, TSE:MEDA is a Underperform.
Medaro Mining’s overall stock score reflects severe financial weaknesses, including a lack of revenue and significant losses. While technical analysis shows neutral momentum, the company’s negative equity and poor valuation highlight substantial risks. Strategic changes are crucial for improving financial health and investor confidence.
To see Spark’s full report on TSE:MEDA stock, click here.
More about Medaro Mining
Medaro Mining Corp. is a lithium exploration company based in Vancouver, BC, owning the James Bay Pontax Project and the CYR South lithium properties in Quebec.
YTD Price Performance: -72.80%
Average Trading Volume: 17,986
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$736.4K
Learn more about MEDA stock on TipRanks’ Stock Analysis page.