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Power Ore raises $925,000 in private placement

Chief executive Stephen Stewart is purchasing around 4% of the shares issued in the offering

Power Ore - Power Ore raises $925,000 in private placement

Power Ore Inc (CVE:PORE) has said it will close a private placement to raise $925,000.

The company said the placement includes around 4.68 million flow-through units at a price of $0.09 each to raise $421,589, with each unit consisting of one flow through common share and one half of one common share purchase warrant.

WATCH: Power Ore increases land position by 30% in Chibougamau with acquisition of Scott Property

The placement also includes 6.7 million units at a price of $0.075 each to raise proceeds of $503,410, with each unit consisting of one common share and one half of one common share purchase warrant.

Power Ore also said its chief executive Stephen Stewart is purchasing around 4% of the shares issued in the offering.

The company is currently focused on its Opemiska copper complex in Quebec, which sits inside the boundaries of the province’s Plan Nord which promotes and funds infrastructure and development of natural resource projects. The property also covers 12,782 hectares and the past-producing Springer, Perry, Robitaille and Cooke mines.

Contact the author at calum@proactiveinvestors.com

Follow him on Twitter @Cal_Proac

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Price: 0.23 CAD

TSX-V:QCCU
Market: TSX-V
Market Cap: $23.97 m
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Power Ore increases land position by 30% in Chibougamau with acquisition of...

Power Ore Inc (CVE: PORE) CEO Stephen Stewart joined Steve Darling from Proactive Vancouver with news the company has made a major move around their current Opemiska project in Chibougamau district. Stewart says the company has become the dominant leader in that area by acquiring the 100%...

on 27/7/20

2 min read