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The latest update is out from Mogotes Metals Inc. ( (TSE:MOG) ).
Mogotes Metals Inc. has announced a non-brokered private placement of up to 12.5 million units at C$0.32 per unit, for potential gross proceeds of up to C$4 million, with each unit comprising one common share and one-half warrant exercisable at C$0.53 for three years. The financing, which is being undertaken to satisfy pre-emptive rights held by certain shareholders and is subject to TSX Venture Exchange and other regulatory approvals, will be used for general corporate and working capital purposes and includes standard hold periods on the securities depending on jurisdiction, underscoring the company’s ongoing efforts to fund exploration and maintain its shareholder structure as it advances its Filo Sur project in the Vicuña district.
More about Mogotes Metals Inc.
Mogotes Metals Inc. is a mineral exploration company focused on copper and gold in the highly prospective Vicuña district spanning Argentina and Chile. Its flagship Filo Sur project adjoins the large Filo del Sol copper-gold-silver discovery and lies along the same north-south mineralized belt as the Filo del Sol–Aurora and NGEx Minerals’ Lunahuasi and Los Helados copper-gold deposits, though the company cautions that nearby mineralization may not be indicative of Filo Sur’s potential.
Average Trading Volume: 430,062
Technical Sentiment Signal: Buy
Current Market Cap: C$142.2M
Find detailed analytics on MOG stock on TipRanks’ Stock Analysis page.