Welcome to our dedicated page for Portofino Resour news (Ticker: PFFOF), a resource for investors and traders seeking the latest updates and insights on Portofino Resour stock.
Portofino Resources Inc. (PFFOF) provides comprehensive updates on its mineral exploration activities through this dedicated news hub. Investors and industry observers will find authoritative reporting on the company's lithium brine projects in Argentina's Lithium Triangle and gold exploration initiatives in Ontario, Canada.
This resource centralizes all material announcements including drilling results, strategic partnerships, and project acquisitions. Users can track developments across key assets like the Yergo Lithium Project and South of Otter gold property, with updates curated for both technical experts and general investors.
Content highlights include exploration milestones, joint venture announcements, and corporate financial updates. The page serves as a historical record of operational progress while maintaining focus on forward-looking operational developments (without speculative content).
Bookmark this page or check regularly for verified updates directly from company filings and authorized communications. All content adheres to financial disclosure standards and is updated as new information becomes publicly available.
Portofino Resources (TSXV: POR) (OTC Pink: PFFOF) has revised its debt settlement agreement. The company will now settle up to $105,000 in outstanding debt by issuing 10.5 million common share Units at $0.01 per Unit, a reduction from the previously announced $205,000 debt settlement for 20.5 million Units.
Each Unit consists of one share and a half warrant, with each full warrant being convertible into one share at $0.05 per share for two years from closing. The debt settlement involves various arms-length creditors and requires TSX Venture Exchange approval.
Portofino Resources (TSXV: POR) (OTC Pink: PFFOF) has announced plans to settle outstanding debt through a shares-for-debt arrangement. The company has executed agreements with arms-length creditors to settle up to $205,000 in debt by issuing 20,500,000 common share Units at $0.01 per Unit.
Each Unit will consist of one share and one-half warrant, with a full warrant being convertible into one share at $0.05 per share for a two-year period from closing. The transaction requires TSX Venture Exchange approval to proceed.
Portofino Resources (TSXV: POR) (OTC: PFFOF) is seeking TSX Venture Exchange approval for a one-year extension of 21,875,000 common share purchase warrants. The warrants, exercisable at $0.10, include 13,000,000 warrants expiring November 03, 2024, and 8,875,000 warrants expiring November 29, 2024. These warrants were originally issued as part of a non-brokered private placement of 23,500,000 Units priced at $0.04/Unit, with 1,625,000 warrants previously exercised at $0.06 during the first year. If approved, the new expiry dates will be November 03 and November 29, 2025.
Portofino Resources Inc. (TSXV: POR) (OTC Pink: PFFOF) has provided an update on its priority projects and corporate activities. The company is re-activating a drill permit for its South of Otter Gold Project in Red Lake, Ontario, following Kinross Gold Corp.'s positive PEA announcement for the nearby Great Bear project. Portofino is also preparing a new work program and budget for South of Otter.
For the Gold Creek Property in Thunder Bay, Ontario, Delta Resources has applied for an exploration and drilling permit. Portofino continues discussions with potential partners to advance its Yergo Lithium Project in Argentina to the drilling stage. The company also announced the resignation of director Kenneth Cawkell and the termination of the Greenheart Lake, Ontario lithium property agreement.
Portofino Resources has initiated discussions with multiple international groups regarding lithium supply from its Argentine projects, Yergo and Arizaro. The company is exploring strategic financing options to advance these projects. Yergo, located in Catamarca Province, has shown high lithium brine quality with values up to 373 mg/L Lithium and 8,001 mg/L Potassium. Arizaro, in Salta Province, also exhibits significant lithium potential with aquifer depths up to 1000m. Despite public market interest, international groups are actively conducting due diligence on these projects. However, there is no assurance that these discussions will lead to material transactions.
Portofino Resources has finalized an Option Agreement with Delta Resources, allowing Delta to acquire a 100% interest in Portofino's Gold Creek property in Ontario. The deal includes $300,000 in cash and 2,000,001 Delta shares, staggered over three years, with 50% of shares locked for 12 months post-issuance. Portofino retains a 2% Net Smelter Return (NSR) royalty, with Delta having buyback options. Additionally, Portofino closed a claim purchase agreement for 700 acres adjacent to Gold Creek, entailing a $2,200 cash payment and 250,000 Portofino shares. The private vendor retains a 1.25% NSR, with a buyback option for $200,000.
Portofino Resources has signed an agreement with Delta Resources to option its Gold Creek property, which spans 4,324 hectares near Thunder Bay, Ontario. The terms include $300,000 cash and 2,000,001 Delta shares, distributed over three years upon TSX approval. The deal also grants Portofino a 2% Net Smelter Return (NSR) royalty, with Delta having buyback options. Additionally, Portofino executed a claim purchase agreement for a contiguous 700-acre property, costing $2,200 and 250,000 Portofino shares, with a 1.25% NSR for the vendor. These agreements aim to enhance Portofino's financial position and expand its resource portfolio.
Portofino Resources Inc. has granted stock options to consultants, allowing them to purchase 360,000 common shares at an exercise price of $0.05 per share. The options are subject to vesting conditions and expire five years from the grant date.
