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Silverfish Resources, Inc. ( (TSE:MSM) ) has shared an update.
Metal Source Mining Inc. has arranged a non-brokered private placement of 3.4 million units at $0.30 per unit for gross proceeds of $1.02 million, all to be taken up by prominent resource investor Eric Sprott through 2176423 Ontario Ltd. Each unit comprises one common share and half a warrant exercisable at $0.40 for two years, with the financing expected to close by year-end subject to regulatory approvals, providing additional capital that underscores investor confidence and strengthens the company’s financial position. Concurrently, the company reported that drilling is underway at its Silver Hill Project, with the fourth hole completed and further holes planned in the current exploration phase, signaling continued advancement of its exploration strategy and potential future catalysts for stakeholders once analytical results are reported.
More about Silverfish Resources, Inc.
Metal Source Mining Inc. is a Canadian exploration company focused on the acquisition, exploration, and development of high-quality precious and base metal projects in mining-friendly jurisdictions, with its flagship work currently centered on the Silver Hill Project.
Average Trading Volume: 80,772
Technical Sentiment Signal: Buy
Current Market Cap: C$23.57M
See more data about MSM stock on TipRanks’ Stock Analysis page.