Apogee Minerals raises C$2.75 million in private placement financing

Apogee Minerals Ltd. (TSXV: APMI) announced a fully subscribed non-brokered private placement financing of up to 55 million units at C$0.05 per unit for gross proceeds of up to C$2.75 million.

Each unit consists of one common share and one transferrable warrant. The warrants allow holders to purchase additional common shares at C$0.075 per share for four years from the issue date.

The Vancouver-based mineral exploration company stated it plans to use the proceeds for general working capital and exploration expenditures in Saskatchewan. The company expects to close the financing shortly.

The financing requires regulatory approval, including from the TSX Venture Exchange. All securities issued under the offering will be subject to a four-month hold period under Canadian securities laws.

Apogee Minerals may pay finders fees in accordance with TSXV policies. The company noted that the securities have not been registered under U.S. securities laws and may not be offered or sold in the United States without registration or an applicable exemption.

The information is based on a company press release statement.

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