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Silverfish Resources, Inc. ( (TSE:MSM) ) has issued an update.
Metalsource Mining Inc. has closed a non-brokered private placement, raising approximately $6 million through the issuance of 7,999,998 units priced at $0.75, each comprising one common share and half a warrant exercisable at $1.00 for three years. The financing, which included a $1 million investment by Eric Sprott via 2176423 Ontario Ltd. and was completed without finder’s fees, strengthens the company’s balance sheet and will fund exploration at its Silver Hill and Byrd-Pilot projects in North Carolina, as well as general working capital needs, potentially advancing its portfolio in a competitive mineral exploration market.
The units issued under the placement are subject to a four-month-plus-one-day hold period in line with Canadian securities regulations. By securing this capital and attracting a notable resource-sector investor, Metalsource positions itself to accelerate exploration activities that could enhance asset value and support its longer-term growth strategy in mineral discovery.
More about Silverfish Resources, Inc.
Metalsource Mining Inc. is a Canadian mineral exploration company focused on advancing high-potential mineral assets through modern, systematic exploration and value-driven discovery. The company is listed on the CSE, OTCQB and Frankfurt exchanges, targeting growth through exploration in North American projects.
Average Trading Volume: 368,306
Technical Sentiment Signal: Buy
Current Market Cap: C$58.87M
For a thorough assessment of MSM stock, go to TipRanks’ Stock Analysis page.