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The latest update is out from True North Gems ( (TSE:TGX) ).
TGX Energy & Resources plans to raise up to $550,000 through a non-brokered private placement of up to 5,000,000 common shares at $0.11, with proceeds earmarked for mineral exploration at its Yukon rare earth project, technical report updates, evaluation of additional resource and energy investments, and general working capital, subject to standard regulatory approvals. In parallel, the company will restructure its balance sheet by settling $2 million of debt via the issuance of 15,000,000 units, each comprising one share and a warrant exercisable at $0.15 for 36 months with ownership limits, a move that reduces liabilities without creating new insiders or control persons and potentially strengthens its financial position for future project and acquisition activity.
More about True North Gems
TGX Energy & Resources Inc., listed on the TSX Venture Exchange, is a Vancouver-based resource company focused on mineral exploration, including a rare earth project in the Yukon, while also evaluating broader resource acquisition and investment opportunities such as oil and gas.
Average Trading Volume: 5,240
Technical Sentiment Signal: Sell
Current Market Cap: C$1.51M
See more data about TGX stock on TipRanks’ Stock Analysis page.