Teako Minerals Closes Oversubscribed Private Placement, Secures Key Norwegian Investors

1111 Exploration Corp ( (TSE:TMIN) ) has issued an announcement.

Teako Minerals Corp. has successfully closed an oversubscribed non-brokered private placement, raising $961,943 through the issuance of 14,799,133 common shares. The placement saw significant participation from both existing and new investors, including a Norwegian family office which now holds over 10% of the company, marking it as an insider. The funds will be used for drilling at Teako’s Løkken project in Norway and for general working capital. This strategic move strengthens Teako’s financial position and enhances its focus on critical mineral exploration in Norway, potentially increasing its market influence and stakeholder value.

More about 1111 Exploration Corp

Teako Minerals Corp. is a Vancouver-based mineral exploration company focused on acquiring, exploring, and developing mineral properties in Norway. The company specializes in critical metals such as copper, cobalt, zinc, and molybdenum, utilizing advanced exploration technologies and strategic partnerships to meet the rising demand for essential minerals and create value for shareholders and stakeholders.

YTD Price Performance: -38.46%

Average Trading Volume: 150,823

Technical Sentiment Consensus Rating: Buy

Current Market Cap: C$3.16M

See more insights into TMIN stock on TipRanks’ Stock Analysis page.