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.
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.
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