Total
0
Shares
Source: Portofino Resources Inc.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Portofino’s (POR) non-brokered private placement has been increased from $500,000 to $650,000
  • Each warrant shall entitle the holder to purchase one common share at a price of $0.12
  • Proceeds from the financing shall be used for exploration activities, including a first phase drill program on the Yergo, Argentina lithium project
  • Portofino Resources is a Vancouver-based company focused on exploring and developing mineral resource projects in the Americas
  • Portofino Resources Inc. (POR) is up 15 per cent, trading at C$0.115 per share at 4:15 pm ET

Portofino’s (POR) non-brokered private placement has been increased from $500,000 to $650,000.

Each unit, priced at C$0.08, will consist of one common share and one share purchase warrant. Each warrant shall entitle the holder to purchase one common share at a price of $0.12 for 36 months after the offer has closed.

Closing will be subject to TSXV Exchange approval, and any shares issued will be subject to a four-month hold period.

Proceeds from the financing shall be used for exploration activities, including a first phase drill program on the Yergo, Argentina lithium project, working capital and general corporate activities.

Portofino Resources is a Vancouver-based company focused on exploring and developing mineral resource projects in the Americas.

The company’s precious mineral projects include the South of Otter and Bruce Lake projects located in the historic gold mining district of Red Lake, Ontario, Canada proximal to the high-grade Dixie gold project owned by Great Bear Resources Ltd.

Portofino holds three other northwestern Ontario gold projects; the Gold Creek property located immediately south of the historic Shebandowan Nickel-Copper mine, as well as the Sapawe West and Melema West properties located in the rapidly developing Atikokan gold mining camp.

Portofino’s green energy projects include the Allison Lake North (Ontario) Lithium project and the Yergo Lithium property which encompasses the entire Aparejos Salar, located within the world-renowned “Lithium Triangle” in Argentina.

Portofino Resources Inc. (POR) is up 15 per cent, trading at C$0.115 per share at 4:15 pm ET.

More From The Market Herald

" Grande Portage Resources (TSXV:GPG) completes 2021 drill program

Grande Portage Resources (GPG) has completed its two rig drill program at the Herbert Gold project in Southeast Alaska.

" Aurcana (TSXV:AUN) closes non-brokered private placement of units

Aurcana Silver (AUN) has closed its previously announced private placement offering.
Outback Goldfields - Chris Donaldson, CEO

" Outback Goldfields (CSE:OZ) provides updates from its Yeungroon and Glenfine projects

Outback Goldfields (OZ) has provided an update on drilling activities at its Yeungroon project and drill program results from its Glenfine project.

" North Arrow Minerals (TSXV:NAR) reports bulk sample processing underway

North Arrow Minerals (NAR) has begun processing of a 2,000-tonne bulk sample from its Naujaat Diamond Project.