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An update from Portofino Resources ( (TSE:POR) ) is now available.
Portofino Resources Inc. announced its intention to settle $205,000 of outstanding debt by issuing 20,500,000 common share Units, each valued at $0.01. These Units, which include shares and warrants, are part of a debt settlement strategy subject to TSX Venture Exchange approval. This move reflects Portofino’s efforts to manage its financial obligations while maintaining its focus on its mineral resource projects, potentially impacting its financial structure and market presence.
More about Portofino Resources
Portofino Resources Inc. is a Vancouver-based company engaged in exploring and developing mineral resource projects in the Americas. The company holds a 100% interest in the Yergo Lithium Project in Argentina, located within the Argentine Lithium Triangle, and has an option to earn an interest in the Arizaro Lithium Project. In Canada, Portofino has exploration projects in northwestern Ontario, including the South of Otter, Red Lake gold project, and others.
YTD Price Performance: -50.0%
Average Trading Volume: 276,734
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$1.75M
For an in-depth examination of POR stock, go to TipRanks’ Stock Analysis page.
