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Silverfish Resources, Inc. ( (TSE:MSM) ) has issued an update.
Metalsource Mining Inc. has closed a non-brokered private placement raising total gross proceeds of $1.02 million through the issuance of 3.4 million units priced at $0.30, each comprising one common share and a half warrant exercisable at $0.40 for two years. The financing, completed without finder’s fees, was fully subscribed by investor Eric Sprott via 2176423 Ontario Ltd., increasing his ownership to 17.5% on a non-diluted basis and 24.1% on a partially diluted basis, and the company plans to deploy the new capital to advance exploration at its Silver Hill and Byrd-Pilot projects in North Carolina, continue work on its Aruba manganese project in Botswana, and support general working capital, reinforcing its ability to progress key assets and potentially strengthen its position in the precious and base metals exploration space.
More about Silverfish Resources, Inc.
Metalsource Mining Inc. is a Vancouver-based mineral exploration company focused on the acquisition, exploration and development of precious and base metal properties. Its flagship Aruba Property in Botswana’s Kalahari Desert spans 4,663 square kilometers and is prospective for platinum group metals, gold, silver and manganese, while it also advances silver-focused projects such as Silver Hill and the Byrd-Pilot projects in North Carolina.
Average Trading Volume: 123,997
Technical Sentiment Signal: Buy
Current Market Cap: C$37.12M
Find detailed analytics on MSM stock on TipRanks’ Stock Analysis page.