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Yergo Lithium Project overview Source: Portofino Resources
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  • Portofino Resources Inc. (POR) announces a fully subscribed non-brokered private placement of $676,000
  • Each unit is priced at $0.09 and will consist of one common share and one share purchase warrant
  • Each warrant has a term of 36 months from the closing date and entitles the holder to purchase a common share at a price of $0.12 at any time during the period
  • The financing enables Portofino to expand its 2021 exploration programs such as drilling at the Yergo, Argentina lithium project, advancing the Allison Lake North lithium and rare elements property toward the drilling stage, working capital and general corporate activities
  • Portofino is a Vancouver based Canadian company focused on exploring and developing mineral resource projects in the Americas
  • Portofino Resources Inc. (POR) is down 4.167 per cent and is trading at $0.115 per share at 1:36 p.m. ET

Portofino Resources Inc. (POR) announces a fully subscribed non-brokered private placement of $676,000.

Units are priced at $0.09 and will consist of one common share and one share purchase warrant.

Each warrant has a term of 36 months from the closing date of the offering and entitles the holder to purchase a common share at a price of $0.12 at any time during the period.

Proceeds will enable Portofino to expand its 2021 exploration programs, including drilling at the Yergo, Argentina lithium project and advancing the Allison Lake North lithium property toward the drilling stage, in addition to providing general working capital.

Portofino has the right to earn 100 per cent interest in the 2,932-hectare Yergo Project which encompasses the entire Aparejos Salar which is in the southern part of Argentina’s renowned “Lithium Triangle”.

It is situated 15 kilometres southeast of Neo Lithium Corp’s 3Q Project.

Also, the company has the right to earn 100 per cent interest in the 1,618-hectare Allison Lake North Lithium Property.

The property is located 100 kilometres east of the historic gold mining district of Red Lake, Ontario and is accessible by well-established logging roads. A hydroelectric power line intersects the claim group.

Portofino is a Canadian company focused on exploring and developing mineral resource projects in the Americas.

Portofino Resources Inc. (POR) is down 4.167 per cent and is trading at $0.115 per share at 1:36 p.m. ET.

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