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Mogotes Metals Inc. ( (TSE:MOG) ) just unveiled an announcement.
Mogotes Metals Inc. has received final TSX Venture Exchange approval for its non-brokered private placement of 86,792,425 units at $0.265 per unit, raising roughly $23 million in gross proceeds. As part of this approval, more than $5.3 million tied to over 20 million escrowed units subscribed by CD Capital has been released to the company, bolstering its balance sheet to advance exploration at its Filo Sur project.
In connection with the financing, CD Capital founder and CIO Carmel Daniele has joined Mogotes’ board, adding deep mining private equity experience and reinforcing institutional backing for the company’s copper-gold strategy in the Vicuña district. The appointment underscores growing interest from specialized resource investors in Mogotes’ adjacency to major Andean copper-gold discoveries, potentially enhancing its strategic positioning in the region.
More about Mogotes Metals Inc.
Mogotes Metals Inc. is a mineral exploration company focused on copper and gold in the 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 belt as several significant regional copper-gold deposits in the Andes.
Average Trading Volume: 664,764
Technical Sentiment Signal: Buy
Current Market Cap: C$207.4M
For an in-depth examination of MOG stock, go to TipRanks’ Overview page.