Casa Minerals closes first tranche of private placement for $614,625

Casa Minerals Inc. (TSXV: CASA) closed the first tranche of its non-brokered private placement, raising $614,625 through the sale of 4,917,000 units at $0.125 per unit.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at $0.15 per share during the first three months, with the exercise price increasing to $0.20 per share for the remainder of the two-year term ending February 4, 2028.

The securities are subject to a four-month and one-day hold period under applicable securities laws. Casa Minerals paid $24,000 in finder's fees to registered financial institutions.

The company stated it will use net proceeds for general administration and exploration activities on its projects in Arizona and British Columbia, Canada. Casa Minerals plans to continue raising funds for the remaining portion of the placement.

The private placement completion requires approval from the TSX Venture Exchange. Casa Minerals owns a 90% interest in the Congress gold mine in Arizona and a 100% interest in the Pitman property in British Columbia. The company also holds an option to acquire a 75% interest in the Arsenault VMS Property in British Columbia.

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