On a day when American markets were haltingly trying to find their way upward, Canadian stocks – particularly in the small-cap mining area – put their collective foot on the accelerator. Monday afternoon, it was the turn of Toronto-based Plateau Energy Metals Inc. (TSX-Venture: PLU) to let investors know it was taking a step to finance future projects.
The miner intends to complete a concurrent non-brokered private placement of more than four million units for 21 cents each, adding up to gross proceeds of $871,500.
CEO Alex Holmes enthused, “This additional offering is an opportunity for the Company to welcome investments from a large, long-term, Asia-based specialist natural resources investment fund and a European investment fund.”
“We have seen increasing interest recently in our low capital intensity, low operating cost Macusani uranium project. Together with our Falchani Lithium project, this additional investment will ensure the company is well positioned through 2020 and provides flexibility to evaluate work programs on both projects in this challenging environment.”
Each unit will consist of one common share in the capital of the Company and one common share purchase warrant exercisable to acquire one share at an exercise price of $0.40 cents per Share for four years from the date of issuance.
The stock price reflected these good vibes, gaining four cents, or 14.3%, to 32 cents, on volume of 218,000 shares.
Related Stories
