Casa Minerals closes second tranche, raises $968,649 in private placement

Casa Minerals Inc. (TSXV: CASA) (OTCQB: CASXF) (FSE: 0CM) has closed the second tranche of a non-brokered private placement, raising aggregate gross proceeds of $968,649, according to a company statement.

The tranche consisted of 5,800,000 flow-through units at $0.10 per unit, generating $580,000, and 5,552,129 standard units at $0.07 per unit, generating $388,649.

Each flow-through unit includes one flow-through common share and one-half of a common share purchase warrant. Each standard unit includes one common share and one full warrant. All warrants are exercisable at $0.15 per common share until October 15, 2028.

All shares and warrants issued are subject to a hold period of four months and one day from issuance, expiring February 16, 2027.

Net proceeds are designated for exploration and development activities on the company's projects in British Columbia, Canada.

The company paid $41,173 in cash finder's fees and issued 361,757 non-transferable finder's warrants as part of the first tranche. Each finder's warrant is exercisable at $0.15 per share for two years from issuance.

The placement remains subject to TSX Venture Exchange approval. Casa Minerals said the offering remains open and additional tranches may be closed pending regulatory approvals.

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