92 Resources Corp (CVE:NTY) announced it has closed a non-brokered private placement financing for $618,000.
The Vancouver-based company has allotted and issued 12.36 million units at a price of C$0.05 per unit.
Each unit comprises one flow-through common share and one-half of one non-transferable share purchase warrant, with each whole warrant entitling the holder to purchase one non-flow-through common share of the company for a period of up to 36 months at a price of C$0.10.
BIG PICTURE: 92 Resources is building a highly attractive portfolio of energy-related projects in mining-friendly jurisdictions
The company intends to use the proceeds from the private placement on advancing its existing Quebec properties.
92 Resources focuses on acquiring and advancing strategic and prospective modern energy-related projects.
The company has an option agreement to acquire 100% interests in the Pontax lithium property consisting of 104 mineral claims covering an area of about 5,500 hectares (13,500 acres) near Eastmain, Quebec.
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