Source: Element 29 Resources.
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Element 29 Resources (ECU) has announced a non-brokered private placement of up to C$3 million
  • The company will use the proceeds for a 3,700 m drill program at its Flor de Cobre Project and the completion of an initial mineral resource estimate for its Elida Project
  • Both projects are favourably located for future mine development and will benefit from nearby infrastructure
  • Element 29 is an emerging copper exploration and development company focused on a portfolio of Peruvian projects
  • Element 29 Resources (ECU) is up by 1.69 per cent and is currently trading at $0.60 per share

Element 29 Resources (ECU) has announced a non-brokered private placement of up to C$3 million.

The company will issue up to 5,000,000 units priced at $0.60 per unit.

Each unit includes one common share and one-half of one common share purchase warrant.

Each warrant is exercisable for one common share priced at $0.85 for three years from the closing of the offering.

The company will use the proceeds for a 3,700 m drill program at its Flor de Cobre Project, the completion of an initial mineral resource estimate for its Elida Project, as well as general working capital.

Both projects are favourably located for future mine development and will benefit from nearby infrastructure, including roads, powerlines, ports, water and a skilled workforce.

Element 29 is an emerging copper exploration and development company focused on a portfolio of Peruvian projects.

Element 29 Resources (ECU) is up by 1.69 per cent and is currently trading at $0.60 per share as of 11:52 am ET.

More From The Market Herald
The Market Herald Video

" Giga Metals (TSXV:GIGA) and Mitsubishi Corporation form JV to develop Turnagain Nickel Project

Giga Metals and Mitsubishi Corporation have agreed to establish a joint venture company, Hard Creek Nickel Corp, to develop the Turnagain Nickel Project
Sandstorm Gold Ltd. - President & CEO, Nolan Watson.

" Sandstorm (TSX:SSL) closes Nomad Royalty (TSX:NSR) deal

Sandstorm Gold Ltd. (SSL) has completed its previously announced acquisition of Nomad Royalty Company Ltd.

" Maple Gold (TSXV:MGM) intersects gold in Phase II Eagle Mine drilling

Maple Gold Mines (MGM) reported assay results from the first drill hole of the company’s Phase II drill program at its Eagle Mine
American Pacific Mining - President, Eric Saderholm.

" American Pacific Mining (CSE:USGD) to acquire Constantine Metal Resources (TSXV:CEM)

American Pacific Mining (USGD) has agreed to acquire all of the issued and outstanding common shares of Constantine Metal Resources Ltd. (CEM)