Arras Minerals Closes Upsized $16.1 Million Financing
Arras Minerals Corp (OTCQB:ARRKF) has successfully closed an oversubscribed financing round, raising C$16.1 million through brokered and non-brokered private placements. The company issued 18,941,177 common shares at $0.85 per share, with Teck Resources increasing its ownership to approximately 9.9%.
The financing consisted of a brokered portion of 15,119,708 shares led by Haywood Securities Inc. and a non-brokered portion of 3,821,469 shares. The funds will support exploration activities at the Elemes Project in Kazakhstan, with programs set to commence later this month. The financing ensures the company is fully funded for its Phase 2 exploration program, with operational flexibility extending into 2026.
Arras Minerals Corp (OTCQB:ARRKF) ha chiuso con successo un round di finanziamento sovrascritto, raccogliendo C$16,1 milioni attraverso collocamenti privati mediati e non mediati. L'azienda ha emesso 18.941.177 azioni ordinarie a $0,85 per azione, con Teck Resources che ha aumentato la sua partecipazione a circa il 9,9%.
Il finanziamento consisteva in una parte mediata di 15.119.708 azioni guidata da Haywood Securities Inc. e in una parte non mediata di 3.821.469 azioni. I fondi supporteranno le attività di esplorazione presso il Progetto Elemes in Kazakistan, con programmi che inizieranno entro la fine di questo mese. Il finanziamento garantisce che l'azienda sia completamente finanziata per il suo programma di esplorazione Fase 2, con flessibilità operativa che si estenderà fino al 2026.
Arras Minerals Corp (OTCQB:ARRKF) ha cerrado con éxito una ronda de financiamiento sobre suscrita, recaudando C$16.1 millones a través de colocaciones privadas mediadas y no mediadas. La compañía emitió 18,941,177 acciones comunes a $0.85 por acción, con Teck Resources aumentando su propiedad a aproximadamente el 9.9%.
El financiamiento consistió en una parte mediada de 15,119,708 acciones liderada por Haywood Securities Inc. y una parte no mediada de 3,821,469 acciones. Los fondos apoyarán las actividades de exploración en el Proyecto Elemes en Kazajistán, con programas que comenzarán a finales de este mes. El financiamiento asegura que la compañía esté completamente financiada para su programa de exploración de Fase 2, con flexibilidad operativa que se extenderá hasta 2026.
Arras Minerals Corp (OTCQB:ARRKF)는 초과 청약된 자금 조달 라운드를 성공적으로 마감하고 C$16.1 백만을 중개 및 비중개 사모 배치를 통해 모금했습니다. 회사는 $0.85 주당 18,941,177주를 발행했으며, Teck Resources는 소유 지분을 약 9.9%로 늘렸습니다.
이번 자금 조달은 Haywood Securities Inc.가 주도한 15,119,708주의 중개 부분과 3,821,469주의 비중개 부분으로 구성되었습니다. 자금은 카자흐스탄의 Elemes 프로젝트에서의 탐사 활동을 지원하며, 프로그램은 이달 말에 시작될 예정입니다. 이번 자금 조달은 회사가 2단계 탐사 프로그램에 완전히 자금을 지원받을 수 있도록 보장하며, 운영 유연성은 2026년까지 연장됩니다.
Arras Minerals Corp (OTCQB:ARRKF) a réussi à clôturer un tour de financement sursouscrit, levant C$16,1 millions par le biais de placements privés médiés et non médiés. L'entreprise a émis 18.941.177 actions ordinaires à $0,85 par action, Teck Resources augmentant sa participation à environ 9,9%.
Le financement se composait d'une partie médiée de 15.119.708 actions dirigée par Haywood Securities Inc. et d'une partie non médiée de 3.821.469 actions. Les fonds soutiendront les activités d'exploration du Projet Elemes au Kazakhstan, avec des programmes prévus pour commencer plus tard ce mois-ci. Le financement garantit que l'entreprise est entièrement financée pour son programme d'exploration de Phase 2, avec une flexibilité opérationnelle s'étendant jusqu'en 2026.
Arras Minerals Corp (OTCQB:ARRKF) hat erfolgreich eine überzeichnete Finanzierungsrunde abgeschlossen und C$16,1 Millionen durch vermittelte und nicht vermittelte Privatplatzierungen gesammelt. Das Unternehmen hat 18.941.177 Stammaktien zu $0,85 pro Aktie ausgegeben, wobei Teck Resources seinen Anteil auf etwa 9,9% erhöht hat.
Die Finanzierung bestand aus einem vermittelten Teil von 15.119.708 Aktien, der von Haywood Securities Inc. geleitet wurde, und einem nicht vermittelten Teil von 3.821.469 Aktien. Die Mittel werden die Explorationsaktivitäten im Elemes-Projekt in Kasachstan unterstützen, wobei die Programme noch in diesem Monat beginnen sollen. Die Finanzierung stellt sicher, dass das Unternehmen vollständig für sein Phase-2-Explorationsprogramm finanziert ist, mit operativer Flexibilität bis 2026.
- Raised C$16.1M in oversubscribed financing
- Teck Resources increased ownership stake to 9.9%
- Company fully funded for Phase 2 exploration program through 2026
- Added new institutional shareholders to register
- 6% cash commission paid to agents on brokered portion
- Share dilution from issuance of 18.9M new shares
VANCOUVER, BC / ACCESS Newswire / April 9, 2025 / Arras Minerals Corp. (TSXV:ARK)(OTCQB:ARRKF) ("Arras" or the "Company") is pleased to announce that it has closed its previously announced brokered and non-brokered private placements (please refer to the Company's March 20, 2025 news release). A total of 18,941,177 common shares ("Shares") were issued at a price of
The brokered portion of the Offering (the "Brokered Offering"), pursuant to which the Company issued 15,119,708 Shares, was completed through a syndicate of agents (the "Agents") led by Haywood Securities Inc., and including Ventum Financial Corp., Canaccord Genuity Corp. and SCP Resource Finance LP. The Company experienced significant interest in the Offering and subsequently upsized the non-brokered portion of the Offering (the "Non-Brokered Offering"). Pursuant to the Non-Brokered Offering, the Company issued 3,821,469 Shares at the Issue Price. A major participant in the Non-Brokered Offering was Teck, which increased its ownership interest in the Company to approximately
Darren Klinck, President & Director, commented, "We are very pleased to close this upsized financing and would like to thank current and new shareholders for their continued support of the Company. This marks another important step for Arras as we have added a number of new institutional shareholders to the share register. The Company is fully-financed for our planned Phase 2 exploration program at the Elemes Project and we now have significant flexibility to adjust and expand priorities well into 2026. Activities in Kazakhstan are ramping up and we are currently preparing to commence work programs later this month."
The Shares issued under the Brokered Offering were offered to purchasers pursuant to: (i) the accredited investor exemption (the "Accredited Investor Exemption") under National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), and (ii) the listed issuer financing exemption ("LIFE Exemption") under Part 5A of NI 45-106, in all the provinces of Canada, except Québec. The Shares issued under the LIFE Exemption are not subject to a statutory hold period pursuant to applicable Canadian securities laws. The Shares issued under the Accredited Investor Exemption are subject to a statutory hold period expiring on August 11, 2025. Purchasers under the Brokered Offering received a 1:1 ratio of Shares issued pursuant to the Accredited Investor Exemption and Shares issued pursuant to the LIFE Exemption. In connection with the Brokered Offering, the Agents received a cash commission of
The Company will use the net proceeds from the Offering to fund exploration and advancement of the Company's projects in Kazakhstan, and for general corporate purposes as further described in the Company's offering document under the LIFE Exemption dated March 20, 2025.
The securities offered pursuant to the Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Certain related parties of the Company participated in the Offering. The issuance of Shares to related parties is considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company has relied on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 (and Policy 5.9) as the fair market value of the Shares issued to such persons does not exceed
About Arras Minerals Corp.
Arras is a Canadian exploration and development company advancing a portfolio of copper and gold assets in northeastern Kazakhstan, including the Elemes copper-gold porphyry project and the Option Agreement on the Beskauga copper and gold project. The Company has established the third-largest license package in the country prospective for copper and gold (behind Rio Tinto and Fortescue). In December 2023, the Company entered into a strategic alliance with Teck Resources Limited ("Teck") in which Teck may sole fund a US
On behalf of the Board of Directors
"Darren Klinck"
Darren Klinck
President and Director
INVESTOR RELATIONS:
+1 604 687 5800
info@arrasminerals.com
Further information about the Company can be found on the Company's website at https://www.arrasminerals.com.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements and information herein, including all statements that are not historical facts, contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. Such forward-looking statements or information include but are not limited to statements or information with respect to the proposed use of proceeds from the Offering. Often, but not always, forward-looking statements or information can be identified by the use of words such as "will" or variations of that word and phrases or statements that certain actions, events or results "will", "could" or are "intended to" be taken, occur or be achieved.
With respect to forward-looking statements and information contained herein, the Company has made numerous assumptions including among other things, assumptions about general business and economic conditions, the prices of gold and copper, the expected use of proceeds from the Offering, and anticipated costs and expenditures. The foregoing list of assumptions is not exhaustive.
Although management of the Company believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks associated with the business of the Company; business and economic conditions in the mining industry generally; the supply and demand for labour and other project inputs; changes in commodity prices; changes in interest and currency exchange rates; risks relating to inaccurate geological and engineering assumptions (including with respect to the tonnage, grade and recoverability of reserves and resources); risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters); risks relating to adverse weather conditions; political risk, geopolitical risk and social unrest; changes in general economic conditions or conditions in the financial markets; and other risk factors as detailed from time to time in the Company's continuous disclosure documents filed with Canadian securities administrators. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: Arras Minerals Corp.
View the original press release on ACCESS Newswire
FAQ
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