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Sorrento Resources Ltd. ( (TSE:SRS) ) just unveiled an announcement.
Sorrento Resources Ltd. announced a brokered private placement offering to raise up to $4.5 million, with Research Capital Corporation as the sole agent. The funds will be used for exploration expenses on the company’s projects in Newfoundland and Labrador and for general corporate purposes. The offering is expected to close by October 30, 2025, and includes an option for the agent to increase the offering by 15%, potentially raising the total proceeds to $5.175 million. This move is aimed at strengthening Sorrento’s financial position to support its ongoing exploration and development activities.
More about Sorrento Resources Ltd.
Sorrento Resources Ltd. is engaged in the acquisition, exploration, and development of mineral property assets in Canada, focusing on precious and base metal properties. The company is involved in projects such as the Wing Pond, Lord Baron, The PEG lithium project, and the Harmsworth (VMS) project, all located in Newfoundland.
Average Trading Volume: 57,459
Technical Sentiment Signal: Buy
Current Market Cap: C$9.48M
See more data about SRS stock on TipRanks’ Stock Analysis page.