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  • 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.

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