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1111 Exploration Corp ( (TSE:TMIN) ) just unveiled an announcement.
Teako Minerals Corp. has closed the first tranche of a non-brokered private placement, issuing 7,729,499 common shares at $0.06 each for gross proceeds of about $463,770, and simultaneously settled $113,000 of debt through the issuance of 1,883,333 common shares at the same deemed price. Several major shareholders and related parties, including Element29 AS, Fruchtexpress Grabher GmbH & Co KG and AVA SYSTEMS AS, participated in the financing and debt settlement, increasing or consolidating their positions, with the transactions treated as related-party deals under MI 61-101 but exempt from formal valuation and minority approval requirements. The new capital will be directed toward exploration activities and general working capital to support Teako’s strategy of advancing its Norwegian project portfolio and pursuing additional project deals and potential revenue-generating third-party work.
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, targeting critical metals such as copper, cobalt, zinc and molybdenum. Through its Project Hub, which includes the Løkken and Venna main projects over a large, metals-prospective land package, the company leverages advanced exploration technologies and local partnerships to capitalize on rising demand for essential minerals while seeking to generate value for shareholders and stakeholders.
Average Trading Volume: 82,336
Technical Sentiment Signal: Buy
Current Market Cap: C$7.15M
See more data about TMIN stock on TipRanks’ Stock Analysis page.