DeepRock Minerals, Inc. ( (TSE:DEEP) ) has issued an update.
DeepRock Minerals Inc. and Allied Critical Metals Corp. have successfully closed a private placement, raising approximately $4.6 million through the issuance of subscription receipts. This funding is part of a reverse takeover transaction that will strengthen their position in the global tungsten market, enabling further development and sustainability efforts in their Portuguese operations. The transaction is expected to enhance the company’s ability to provide a reliable supply of tungsten, contributing to strategic resource security and delivering value to shareholders.
More about DeepRock Minerals, Inc.
DeepRock Minerals Inc. operates in the mining industry, focusing on the extraction and supply of critical minerals, particularly tungsten. The company is strategically positioned in the global market, with operations in Portugal, to meet the increasing demand for tungsten as China reduces its exports.
Technical Sentiment Signal: Buy
Current Market Cap: C$493.5K
For detailed information about DEEP stock, go to TipRanks’ Stock Analysis page.