- First Tellurium (FTEL) has closed the third and final tranche of its non-brokered private placement for gross proceeds of $125,000
- The company issued 1,250,000 units in the third tranche
- First Tellurium is a mineral exploration company
- First Tellurium Corp. (FTEL) opened trading at C$0.14 per share
The company issued 1,250,000 units in the third tranche. Together with the first and second tranche closing, the company has raised a total of $1,130,600 from the sale of 10,646,000 units and $385,000 from the sale of 2,750,000 flow-through shares.
No commissions or finders fees were paid in connection with the third tranche closing.
The company will use the proceeds for exploration and other costs associated with its Deer Horn and Colorado Klondike properties, as well as for general working capital purposes.
The Deer Horn property is located in West-central BC and is 36 km south of the prolific Huckleberry Cu-Mo mine. The company’s Klondike Te property is located 16 km from the small town of Saguache, a County in Colorado in the United States.
All securities issued are subject to a statutory four-month hold period, expiring April 30, 2023.
First Tellurium is a mineral exploration company. Its unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.
First Tellurium Corp. (FTEL) opened trading at C$0.14 per share.