Mineral Road Discovery Plans $360,000 Private Placement for Working Capital

Mineral Road Discovery ( (TSE:ROAD) ) has shared an announcement.

Mineral Road Discovery Inc. has launched a non-brokered private placement of up to 6,000,000 units at $0.06 per unit, aiming to raise $360,000 in gross proceeds. Each unit will comprise one common share and one warrant exercisable at $0.08 for three years, with funds earmarked for general working capital.

The financing remains subject to Canadian Securities Exchange approval and the resulting securities will carry a four-month hold period. The company emphasized that the offering will not be registered under U.S. securities laws and cannot be marketed to U.S. investors, underscoring regulatory constraints around cross-border capital raising.

More about Mineral Road Discovery

Mineral Road Discovery Inc., listed on the Canadian Securities Exchange under the symbol ROAD, operates in the resource exploration sector. The Vancouver-based company focuses on discovering and advancing mineral projects, positioning itself within the broader Canadian junior mining and exploration market.

Average Trading Volume: 31,475

Technical Sentiment Signal: Sell

Current Market Cap: C$2.59M

Find detailed analytics on ROAD stock on TipRanks’ Stock Analysis page.