Pedro Resources (TSE:VBN) has released an update.
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Pedro Resources Ltd. has successfully completed the second tranche of its private placement, raising $47,000 through the sale of 940,000 common shares, to fund its working capital and support a strategic pivot from mining to biotechnologies for soil remediation. The company is also restructuring its management team, including the appointment of a new CEO, to better align with its new business direction. Furthermore, Pedro Resources has made significant payments towards its collaborative agreements, signaling progress in its business transformation.
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