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Currie Rose Resources ( (TSE:VLX) ) has shared an update.
Velox Energy Materials Inc. has closed a non-brokered private placement of 89,296,272 units at $0.035 per unit, raising gross proceeds of about $3.1 million, with each unit comprising a common share and a warrant exercisable at $0.05 for 24 months. The financing, which does not create new insiders or change control, is intended to fund evaluation of new resource opportunities, existing project commitments, corporate and regulatory costs, and working capital, while a participating director’s subscription is being treated as a related-party transaction under MI 61-101 and finder’s fees are being paid to Argonaut Securities.
All securities from the placement are subject to a four-month-plus-one-day hold period under applicable securities laws, and finder’s warrants carry the same $0.05, 24-month exercise terms as the investor warrants. The capital injection strengthens Velox’s balance sheet and supports its strategy of advancing the NQV Project in Queensland and related energy materials and hydrogen technologies without diluting control or significantly altering its insider base, which may reassure existing shareholders about governance and strategic continuity.
More about Currie Rose Resources
Velox Energy Materials Inc. is a publicly traded energy materials company focused on developing high‑value assets in resource- and research-friendly jurisdictions. Its priority is the advanced NQV vanadium and molybdenum project in Queensland, Australia, and it also owns Kotai Energy, which is advancing solid-state hydrogen storage technology from Curtin University in Western Australia.
The NQV Project hosts the Cambridge Deposit with significant indicated and inferred vanadium and molybdenum resources, and the company is targeting shallow, high-grade mineralization suited to low-cost mining and processing. Through Kotai Energy, Velox aims to commercialize technology that enables transport of hydrogen as an inert powder before conversion into high-pressure hydrogen at destination.
Average Trading Volume: 88,814
Technical Sentiment Signal: Sell
Current Market Cap: C$3.57M
For a thorough assessment of VLX stock, go to TipRanks’ Stock Analysis page.