Silver North Resources Closes $370,050 Private Placement and Announces Full Subscription of Flow-Through Offering

An announcement from Alianza Minerals ( (TSE:SNAG) ) is now available.

Silver North Resources Ltd. has successfully closed a non-brokered private placement, raising $370,050 through the sale of 2,467,000 units. Each unit includes one common share and half a warrant, allowing the purchase of additional shares at a set price within 48 months. The funds will be used for general administrative expenses and project development. Additionally, the company’s flow-through unit offering is fully subscribed, expected to close in mid-August, and aims to raise $2,100,000. This financial maneuvering is set to bolster Silver North’s operational capabilities and enhance its project pipeline, potentially impacting its market position and stakeholder interests.

Spark’s Take on TSE:SNAG Stock

According to Spark, TipRanks’ AI Analyst, TSE:SNAG is a Neutral.

Alianza Minerals is significantly challenged by financial weaknesses, including no revenue and continuous losses, overshadowing its debt-free balance sheet. Despite positive technical indicators, the poor valuation and reliance on external funding limit the stock’s overall attractiveness. Strategic efforts and project developments are crucial to improving its financial health and investor appeal.

To see Spark’s full report on TSE:SNAG stock, click here.

More about Alianza Minerals

Silver North Resources Ltd. is a company focused on silver exploration and development, with primary assets including the Haldane Silver Project, the Tim Silver Project, and the GDR project. The company is actively seeking to acquire additional silver properties in favorable jurisdictions. It is listed on the TSX Venture Exchange under the symbol ‘SNAG’, trades on the OTCQB market in the United States under ‘TARSF’, and on the Frankfurt Stock Exchange under ‘I90’.

Average Trading Volume: 125,948

Technical Sentiment Signal: Buy

Current Market Cap: C$14.12M

For a thorough assessment of SNAG stock, go to TipRanks’ Stock Analysis page.