RE:RE:Looking forward to itsw248, these stockwatch and market herald private placement updates will give you a better idea of the funds raised. It is doubtful the recent equity raised in addition to the remaining HELM credit facility would be enough to drill and test a cavern to prove economic viability.
Great to see first nations involvement, but it is a common theme lately with several of the junior potash players. Didnt work very well with Encanto, so hopefully the outcome here is much more positive for all parties involved
I assume there will be a follow up financing announcement as a couple million dollars is peanuts in this industry when considering salaries alone without including any mining ops costs.
- Under the first tranche, the company issued 2,400,000 FT shares for gross proceeds of $480,000.00
- Under the second tranche, the company issued 11,969,998 units for gross proceeds of $1,795,499.70
- Net proceeds from the sale of the units will be used to advance the Tugaske Project