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Mogotes Metals Inc. ( (TSE:MOG) ) has issued an update.
Mogotes Metals Inc. has increased the size of its non-brokered private placement to up to 86,792,452 units at $0.265 per unit, for potential gross proceeds of up to C$23 million. Each unit will consist of one common share and one-half of a warrant, with full warrants exercisable at $0.53 for three years, and the company plans to use the proceeds for general corporate and working capital purposes while prioritizing participation by existing shareholders. The financing, which remains subject to regulatory and TSX Venture Exchange approval and includes standard hold periods depending on jurisdiction, reflects strong investor demand and is expected to bolster Mogotes’ balance sheet as it advances exploration at its Filo Sur copper-gold project in the Vicuña district.
More about Mogotes Metals Inc.
Mogotes Metals Inc. is a mineral exploration company focused on copper and gold projects in the Vicuña district of Argentina and Chile. Its flagship asset, the Filo Sur project, is located adjacent to the large Filo del Sol copper-gold-silver discovery and along the same north-south mineralized belt as other major regional copper-gold deposits, although mineralization on neighboring properties is not necessarily indicative of that on Filo Sur.
Average Trading Volume: 423,856
Technical Sentiment Signal: Buy
Current Market Cap: C$111.8M
Learn more about MOG stock on TipRanks’ Stock Analysis page.