Xplore Resources Secures $2.1M in Private Placement

Xplore Resources Corp. (TSE:XPLR) has released an update.

Xplore Resources Corp. has successfully completed a non-brokered private placement, raising $2.1 million by selling over 21 million units at $0.10 each, which include a share and a purchase warrant. The generated funds are earmarked for debt reduction, exploration of the company’s lithium properties in northwest Ontario, and general working capital. This financing initiative is subject to a mandatory hold period until September 2024, in accordance with securities regulations.

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