Churchill Resources Raises CAD 3M for Newfoundland & Labrador Projects
Churchill Resources Inc. (TSXV: CRI) has closed a non-brokered private placement, raising CAD 3 million. The company issued 37.5 million common shares at CAD 0.08 each. The funds will advance strategic assets in Newfoundland & Labrador, including the Black Raven Antimony-Gold Project, and cover general corporate purposes.
The company's flagship Black Raven property, home to the historic Frost Cove Antimony Mine, holds a polymetallic metal assemblage with signs of past production. This presents a unique exploration opportunity.
Churchill's management team, board, and advisors, with decades of experience in mineral exploration and establishing successful mining companies, will guide this endeavour. The company granted 8.2 million stock options to certain directors, officers, and consultants, exercisable at CAD 0.14 with a five-year term. These securities are subject to a four-month hold period.
In connection with the private placement, 2.625 million finders' warrants were issued to eligible finders. The placement remains subject to final approval from the TSX Venture Exchange (TSXV).
Churchill Resources Inc. has secured CAD 3 million through a private placement to advance its strategic assets in Newfoundland & Labrador, with a focus on the Black Raven Antimony-Gold Project. The company's experienced team will oversee these efforts, backed by stock options granted to key personnel. The private placement's final approval is pending from the TSXV.
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