Hercules Resources Secures $5M Equity Facility

Hercules Resources Corp. (TSE:HERC) has released an update.

Hercules Resources Corp has finalized its $5 million equity investment agreement with Crescita Capital LLC, issuing over 1.15 million shares to cover commitment and consulting fees. This strategic financial move bolsters Hercules’ capital, with shareholder approval surpassing the 50% mark as per CSE policies. The shares issued to Crescita are immediately tradable, with Hercules seeking exemptions from standard hold periods for future issuances under this facility.

For further insights into TSE:HERC stock, check out TipRanks’ Stock Analysis page.