Casa Minerals closes $329,375 private placement tranche

Casa Minerals Inc. (TSXV: CASA) closed the final tranche of its non-brokered private placement, raising $329,375 through the sale of 2,635,000 units at $0.125 per unit, according to a company statement.

The completion brings the total private placement to 7,552,000 units for gross proceeds of $944,000. Each unit consists of one common share and one warrant allowing the purchase of an additional share within two years. The warrants carry an exercise price of $0.15 per share for the first three months, then $0.20 per share for the remaining period.

The securities are subject to a four-month and one-day hold period under applicable securities laws. Casa Minerals paid $18,450 in finder's fees to registered financial institutions for this tranche.

The company stated it will use net proceeds for general administration and exploration activities on projects in Arizona and British Columbia. The private placement remains subject to TSX Venture Exchange approval.

Casa Minerals also announced a two-month digital marketing agreement with European firm BorsenBlick for $80,500 Canadian per month. The agreement covers investor awareness and brand visibility services, with an option for the company to extend or renew the program.

The mining company holds a 90% interest in the Congress gold mine in Arizona and owns the Pitman property in British Columbia. Casa Minerals also has an option to acquire a 75% interest in the Arsenault VMS Property in British Columbia.

You May Also Be Interested In

• Robinhood Ventures Fund II opens at $22.50, IPO at $25
• Johnson Rice Upgrades Core Laboratories (CLB) to Buy
• Benchmark Reiterates Hold Rating on Warner Brothers Discovery (WBD)