St-Georges Eco-Mining (CSE:SX) has closed an initial tranche of a non-brokered private placement, raising C$321,302 ($325,240).
Under the placement, 6.42 million units were issued at C$0.05 per unit. Each unit comprises one common share and half of a common share purchase warrant.
The warrants are exercisable at C$0.075 within a 24-month period.
Funds will be used to maintain St-Georges’ assets and infrastructure, including sample and core storage, licence renewals, contractual commitments, and other expenditures required to preserve the company’s interests and standing in Iceland.
A portion of the funds has also been allocated to operational expenditures at the company’s battery processing subsidiary.
St-Georges Eco-Mining develops new technologies and holds a diversified portfolio of assets and proprietary and patent-pending intellectual property within several highly prospective subsidiaries.
Write to Aaliyah Rogan at Mining.com.au
Images: St-Georges Eco-Mining
