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Cashbox Ventures Ltd ( (TSE:VLTA) ) has shared an update.
Volta Metals Ltd. has closed an oversubscribed and upsized non-brokered private placement, raising gross proceeds of approximately $2.8 million through the issuance of more than 12.2 million flow-through common shares priced at $0.23 each. The funds will be directed toward eligible Canadian exploration expenses that qualify as critical mineral mining expenditures, supporting a second-phase drill program at the Springer rare earth and gallium deposit and further work at the Aki Critical Minerals Project, while a director’s participation triggered but qualified for exemptions from related-party transaction rules; the company’s CEO said the record-size financing, completed at the highest share price and in the shortest time to date for Volta, underscores strong investor confidence and positions the explorer to accelerate work and further de-risk its key Ontario assets.
More about Cashbox Ventures Ltd
Volta Metals Ltd. is a Toronto-based mineral exploration company focused on rare earths, gallium, lithium, cesium and tantalum. It holds and is actively exploring a portfolio of critical minerals projects in Ontario, including its Springer advanced rare earth and gallium deposit and the Aki Critical Minerals Project, in one of the world’s emerging hard-rock critical mineral districts.
Average Trading Volume: 184,335
Technical Sentiment Signal: Buy
Current Market Cap: C$22.37M
For a thorough assessment of VLTA stock, go to TipRanks’ Stock Analysis page.