Pedro Resources (TSE:VBN) has released an update.
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Pedro Resources Ltd. is in the process of raising $600,000 through a private placement of 12 million common shares, priced at $0.05 each, following the Canadian Securities Exchange’s approval of a 45-day extension for the offering’s completion. The capital raised will support the company’s working capital needs and facilitate its pivot towards developing biotechnologies for soil remediation. Investors are reminded that the shares will be subject to a four-month hold period post-issue.
For further insights into TSE:VBN stock, check out TipRanks’ Stock Analysis page.