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Western Metallica Resources Corp. ( (TSE:WMS) ) has provided an announcement.
Western Metallica Resources Corp. has secured a $100,000 bridge loan from CEO Gregory Duras to support exploration activities at the Luz Maria target within its Caña Brava Project in Peru. The loan, which is a related party transaction, is unsecured and bears a 10% interest rate, with repayment terms contingent on future funding. Additionally, the company has granted 4,550,000 restricted share units to its officers, directors, and consultants, subject to TSX Venture approval. This strategic financial maneuvering highlights the company’s ongoing efforts to advance its mineral exploration initiatives while managing financial obligations.
More about Western Metallica Resources Corp.
Western Metallica Resources Corp. is an Ontario-based company, headquartered in Toronto, specializing in mineral resource exploration and development. The company is engaged in advancing two significant projects: the Caña Brava copper-molybdenum project in Peru and the Nueva Celti Copper Property in Spain.
YTD Price Performance: 50.0%
Average Trading Volume: 454,115
Technical Sentiment Consensus Rating: Sell
Find detailed analytics on WMS stock on TipRanks’ Stock Analysis page.