Ragnar Metals (ASX:RAG) is making a $1.205 million cornerstone investment in High-Tech Metals (ASX:HTM) via a placement to help fund the company’s exploration activities.
As part of the investment, Ragnar, which has a market capitalisation of $9.47 million, has the right to elect a director to High-Tech’s board and will do so following settlement.
Under the placement, about 8.4 million shares have been issued at $0.15 per share to raise $1.261 million. The company has also issued 6.66 million options exercisable at $0.25 on or before 19 January 2026.
The funds will be used to accelerate exploration across High-Tech’s project portfolio, including upcoming drilling programs, heritage surveys, and general working capital.
High-Tech Metals’ flagship project is located near the Ontario-Manitoba border in the Kenora Mining District. The Werner Lake Geological Belt hosts numerous cobalt-copper and base metals showings, deposits, and past producing mines.
Ragnar Metals is a mineral explorer focused on developing a portfolio of prospective, district-scale gold, nickel, copper, and lithium projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Ragnar Metals
