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Salazar Resources ( (TSE:SRL) ) just unveiled an announcement.
Salazar Resources Limited announced the initial closing of its non-brokered private placement, raising gross proceeds of $1,066,940 through the issuance of 15,242,000 common shares. The company expects to complete the remaining placement soon, with proceeds allocated for working capital, tenure payments, and exploration activities. Notably, certain insiders participated in this financing round, which was deemed a related party transaction but was exempt from certain regulatory requirements due to the transaction’s value relative to the company’s market capitalization.
More about Salazar Resources
Salazar Resources Limited is a company focused on the discovery, exploration, and development of mineral resources in Ecuador. The company has a strong understanding of the local geology, contributing to the discovery of significant gold and copper mines in the region.
YTD Price Performance: 28.57%
Average Trading Volume: 143,379
Technical Sentiment Consensus Rating: Hold
Current Market Cap: C$20.15M
For a thorough assessment of SRL stock, go to TipRanks’ Stock Analysis page.
