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Total Metals ( (TSE:TT) ) has issued an announcement.
Total Metals Corp. has closed the second and final tranches of both its critical minerals and national flow-through private placement, and its hard dollar unit financing, bringing total gross proceeds to approximately C$5.51 million and C$3.24 million respectively. The company issued additional flow-through and critical mineral flow-through units, as well as regular units and associated warrants, and paid modest cash finder’s fees and finder warrants to arm’s-length intermediaries. Proceeds from the flow-through financings will fund qualifying exploration expenditures to be renounced to investors, primarily advancing the Electrolode, High Lake and West Hawk Lake projects, while hard dollar proceeds will support working capital and general corporate purposes; all securities are subject to a four-month hold and the financings remain subject to final TSX Venture Exchange approval, bolstering Total Metals’ capital position for near-term exploration activity.
More about Total Metals
Total Metals Corp. is a mineral exploration company focused on its 100%-owned Electrolode Project, a more than 3,300-hectare property in northwestern Ontario targeting high-potential critical minerals and gold. The project lies along three favourable geological trends near major operations in the Red Lake gold camp, strategically positioned between Kinross Gold’s Great Bear project and First Mining Gold’s Springpole project, and is fully permitted for exploration drilling with multiple historic mineralized zones offering significant expansion potential.
Average Trading Volume: 128,877
Technical Sentiment Signal: Sell
Current Market Cap: C$22.02M
For detailed information about TT stock, go to TipRanks’ Stock Analysis page.