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The latest announcement is out from 1111 Exploration Corp ( (TSE:TMIN) ).
Teako Minerals Corp. has announced a non-brokered private placement of up to 16,666,666 common shares at $0.06 per share to raise as much as $1 million, alongside a shares-for-debt transaction to settle $113,000 in liabilities through the issuance of 1,883,333 common shares to advisors, contractors and an insider. The financing, which may involve finders’ fees and remains subject to Canadian Securities Exchange approval and customary hold periods, is intended to fund exploration activities and general working capital, supporting Teako’s strategy of advancing its Norwegian Project Hub and pursuing additional project deals and potential revenue-generating third-party work while also cleaning up its balance sheet through equity-based debt settlement.
More about 1111 Exploration Corp
Teako Minerals Corp. is a Vancouver-based mineral exploration company focused on acquiring, exploring and developing mineral properties in Norway, with an emphasis on critical metals including copper, cobalt, zinc, molybdenum and associated commodities such as gold, PGEs, uranium, antimony and rare earth elements. Leveraging a first-mover advantage, leading-edge exploration technologies and strong local community engagement, the company operates a Project Hub centered on its Løkken and Venna projects, combining self-funded work on core assets with partnership-driven deals on non-core assets to bring in capital, retain upside exposure and reduce overall risk for shareholders and stakeholders.
Average Trading Volume: 129,512
Technical Sentiment Signal: Buy
Current Market Cap: C$5.28M
For detailed information about TMIN stock, go to TipRanks’ Stock Analysis page.