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The latest update is out from QC Copper and Gold ( (TSE:XXIX) ).
XXIX Metal Corp. has closed a $17.25 million best efforts private placement, issuing a mix of Ontario and Québec charity flow-through units and conventional units, each bundled with half a warrant exercisable at $0.17 over 24 months. The financing, led by SCP Resource Finance with Beacon Securities and Canaccord Genuity, relied on Canadian prospectus exemptions, with certain securities subject to a standard four-month hold period.
Proceeds from the flow-through units will be directed to qualifying exploration expenditures at the company’s Opemiska Project in Québec and Thierry Project in Ontario, with all eligible expenditures to be incurred by the end of 2027 and renounced to investors by late 2026 for tax benefits. Net proceeds from the conventional units will support advancement of the Opemiska preliminary feasibility study and related technical work, bolstering XXIX’s ability to de-risk and advance its key Canadian copper projects.
More about QC Copper and Gold
XXIX Metal Corp. is a Toronto-based mineral exploration company focused on advancing its Opemiska Project in Québec and Thierry Project in Ontario. The company operates in the metals and mining sector, using flow-through financing structures to fund Canadian exploration expenditures in key copper and related mineral districts across these provinces.
Average Trading Volume: 685,220
Technical Sentiment Signal: Buy
Current Market Cap: C$39.89M
See more insights into XXIX stock on TipRanks’ Stock Analysis page.