METALSOURCE MINING ANNOUNCES $1,500,000 PRIVATE PLACEMENT, WITH LEAD ORDER FROM ERIC SPROTT
Metalsource Mining has announced a non-brokered private placement of up to 7.5 million units at $0.20 per unit, aiming to raise $1.5 million. Notable investor Eric Sprott will lead with a $500,000 investment. Each unit includes one common share and half a warrant, with whole warrants exercisable at $0.30 for two years. The proceeds will fund working capital and exploration at the Aruba Project in Botswana, which covers 4,663 km² of the Molopo Farms Complex. The project targets Ni-Cu, Mn, and PGE mineralization through a two-phase exploration program including airborne surveys and drill testing.
Metalsource Mining ha annunciato un collocamento privato senza intermediari di fino a 7,5 milioni di unità a $0,20 per unità, puntando a raccogliere $1,5 milioni. L'investitore di spicco Eric Sprott guiderà con un investimento di $500.000. Ogni unità include una azione comune e metà di un warrant, con i warrant interi esercitabili a $0,30 per due anni. I proventi saranno utilizzati per il capitale circolante e l'esplorazione presso il Progetto Aruba in Botswana, che copre 4.663 km² del Complesso di Molopo Farms. Il progetto mira alla mineralizzazione di Ni-Cu, Mn e PGE attraverso un programma di esplorazione in due fasi, compresi sondaggi aerei e test di perforazione.
Metalsource Mining ha anunciado una colocación privada no intermediada de hasta 7,5 millones de unidades a $0,20 por unidad, con el objetivo de recaudar $1,5 millones. El destacado inversor Eric Sprott liderará con una inversión de $500.000. Cada unidad incluye una acción ordinaria y media garantía, con garantías completas que se pueden ejercer a $0,30 durante dos años. Los ingresos se destinarán al capital de trabajo y a la exploración del Proyecto Aruba en Botswana, que cubre 4.663 km² del Complejo Molopo Farms. El proyecto apunta a la mineralización de Ni-Cu, Mn y PGE a través de un programa de exploración en dos fases que incluye encuestas aéreas y pruebas de perforación.
Metalsource Mining는 중개인 없는 사적 배치를 통해 최대 750만 유닛을 단가 $0.20로 제공하여 $150만을 조달할 계획이라고 발표했습니다. 저명한 투자자인 에릭 스프롯이 $500,000 투자로 선도합니다. 각 유닛은 하나의 보통주와 반 개의 워런트를 포함하며, 전체 워런트는 2년 동안 $0.30에 행사할 수 있습니다. 수익금은 보츠와나의 아루바 프로젝트에서 운영 자본과 탐사를 위한 자금으로 사용될 것입니다. 이 프로젝트는 몰로포 농장 복합체의 4,663 km²를 포함하고 있으며, Ni-Cu, Mn 및 PGE 광물화를 목표로 하는 두 단계 탐사 프로그램을 통해 공중 조사 및 시추 시험을 포함합니다.
Metalsource Mining a annoncé un placement privé sans intermédiaire pouvant aller jusqu'à 7,5 millions d'unités à 0,20 $ l'unité, visant à lever 1,5 million $. L'investisseur notable Eric Sprott mènera avec un investissement de 500 000 $. Chaque unité comprend une action ordinaire et la moitié d'un bon de souscription, avec des bons de souscription entiers exerçables à 0,30 $ pendant deux ans. Les produits seront utilisés pour le fonds de roulement et l'exploration du Projet Aruba au Botswana, qui couvre 4 663 km² du complexe de Molopo Farms. Le projet vise à la minéralisation de Ni-Cu, Mn et PGE à travers un programme d'exploration en deux phases comprenant des enquêtes aériennes et des tests de forage.
Metalsource Mining hat eine nicht vermittelte Privatplatzierung von bis zu 7,5 Millionen Einheiten zu jeweils $0,20 angekündigt, mit dem Ziel, $1,5 Millionen zu sammeln. Der namhafte Investor Eric Sprott wird mit einer Investition von $500.000 führen. Jede Einheit umfasst eine Stammaktie und halb ein Warrant, wobei ganze Warrants für zwei Jahre zu $0,30 ausgeübt werden können. Die Einnahmen werden zur Finanzierung des Betriebskapitals und der Erkundung des Aruba-Projekts in Botswana verwendet, das eine Fläche von 4.663 km² im Molopo Farms-Komplex abdeckt. Das Projekt zielt auf die Mineralisierung von Ni-Cu, Mn und PGE durch ein zweiphasiges Erkundungsprogramm, das Luftuntersuchungen und Bohrtests umfasst.
- Secured $500,000 investment commitment from prominent mining investor Eric Sprott
- Successfully arranged $1.5 million financing to fund exploration activities
- Strategic location adjacent to Rio Tinto Exploration with year-round operational capability
- Property located in proximity to 40% of world's Manganese reserves
- Potential shareholder dilution from the issuance of new shares and warrants
- Early-stage exploration project with no guaranteed results
VANCOUVER, BRITISH COLUMBIA, Oct. 31, 2024 (GLOBE NEWSWIRE) --
METALSOURCE MINING INC. (the “Company” or "Metalsource") (CSE: “MSM”) is pleased to announce a non-brokered private placement of up to 7,500,000 units in the capital of the Company (each, a “Unit”) at a price of
Each Unit purchased will include one common share and one-half of one transferable common share purchase warrant. Each whole Warrant (a “Warrant”) will entitle the holder to purchase one additional common share for a period of two (2) years at a price of CAD
The Company may pay finder’s fees in accordance with the policies of the Canadian Securities Exchange.
The Company intends to use the proceeds raised from the Offering for working capital purposes and to proceed with a work program on their property, “The Aruba Project”, in Botswana.
The Aruba Project covers a portion of the western margin of the 1,300 km2 Molopo Farms Complex (MFC) and is situated about 200 kilometers west of the co-eval Bushveld Complex. The property consists of five prospecting licenses totaling approximately 4,663 km2 in South-Central Botswana The project area is adjacent to Rio Tinto Exploration and is surrounded by good infrastructure and can be operated all year round, with no seasonal influences.
* Located adjacent to South Africa, which accounts for
* The western part of the project area is underlain by the highly prospective Transvaal Supergroup
* Includes the basal units prospective, and untested, for Nickel, Copper and PGE mineralization
Exploration Targets
The Molopo Farms Complex is considered to be one of the most highly prospective areas for Ni-Cu, Mn and PGE. MetalSource’s proposed drilling campaign will be targeted at defining such contacts.
Proposed Work Programs
Phase 1
* Airborne geophysical surveys
* Modeling of survey data, with a focus along Margins of the Malpo Formation
* Definition Geochemical surveys over targets
Phase 2
* Drill Testing of Conductors and Geochem anomalies
* Additional geophysical surveys as appropriate, particularly downhole testing
Qualified Person
This news release has been reviewed and approved by Rory Kutluoglu, B.Sc, P.Geo, a “Qualified Person” as defined under NI 43-101 – Standards for of Disclosure for Mineral Projects.
About Metalsource Mining Inc.
The Company is engaged in the exploration and development of its mineral property assets in Botswana and Canada. The Company’s objective is to locate and develop economic, precious and base metal properties of merit and to conduct its exploration program on its Aruba and Old Timer projects.
For more information, please refer to SEDAR+ at www.sedarplus.ca under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
“Joseph Cullen”
Joseph Cullen,
President, Chief Executive Officer and Director
For further information, please contact:
Mr. Joseph Cullen
Phone: 778-919-8615
Email: jpacullen@gmail.com
Website: https://www.metalsourcemining.com/
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE
Cautionary Note About Forward-Looking Statements
This news release may include forward-looking statements that are subject to risks and uncertainties. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited those identified and reported in the Company’s public filings under the Company’s SEDAR profile at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
FAQ
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