Miata Metals Secures $5.5 Million in Private Placement Funding
Miata Metals Completes Significant Private Placement
VANCOUVER, British Columbia - Miata Metals Corp. (CSE: MMET) (FSE: 8NQ) (OTCQB: MMETF) has announced the successful closure of a non-brokered private placement, bringing in $5.5 million through the issuance of nearly 24 million units. Each unit, priced at $0.23, represents a strong vote of confidence from investors and will aid the company in advancing its exploration initiatives.
Details of the Private Placement Offering
The offering involved the issuance of 23,913,044 units, each consisting of one common share and a half warrant. Notably, each warrant allows stockholders to purchase an additional common share at an exercise price of $0.40 until 2027. This strategic financing approach positions Miata Metals to further its ambitious plans.
Use of Proceeds from the Offering
The funds raised will primarily support Miata's exploration activities, particularly at the Sela Creek Gold Project and the Nassau Gold Project located in Suriname. These projects underline the company's commitment to uncovering valuable mineral assets within the region.
Details on Finder’s Fees and Related Parties
As part of the offering, Miata Metals compensated eligible finders with cash fees totaling $165,004, along with 771,410 warrants that can also be converted into common shares. It's worth noting that certain officers and directors participated in this offering, contributing a cumulative amount of $121,002. This illustrates a unified belief in the company's direction among its leadership.
About Miata Metals Corp.
Miata Metals Corp. is making strides in mineral exploration on the Canadian Securities Exchange and other platforms. With a 70% stake in the Sela Creek Gold Project covering approximately 215 km², and a similar interest in the Nassau Gold Project, the company is strategically positioned in Suriname's burgeoning mineral sector.
Strategic Growth Plans
Through this recent private placement, Miata is poised to enhance its exploration capability and continue identifying potential mineral resource opportunities. The management team remains optimistic about the future, as they undertake the responsibilities associated with their mineral tenure and work towards maximizing value for shareholders.
Contact Information
For inquiries regarding Miata Metals Corporation, interested parties are encouraged to reach out via email at info@miatametals.com or call +1 778 488 9754. Dr. Jacob (Jaap) Verbaas, CEO and Director, is at the helm of the organization, guiding it through these exciting times.
Frequently Asked Questions
What does the recent private placement mean for Miata Metals?
The private placement secures essential funding for Miata Metals to advance its exploration projects, indicating strong investor confidence.
How many units were issued in the private placement?
A total of 23,913,044 units were issued, raising $5.5 million.
What are the exercise terms for the warrants?
The warrants can be exercised at $0.40 until 2027, providing an opportunity for additional shares to be purchased by shareholders.
Which projects will benefit from the funds raised?
The funds will be directed towards exploration efforts at the Sela Creek and Nassau Gold projects in Suriname.
Who can be contacted for more information about Miata Metals?
For more information, contact Dr. Jacob Verbaas at Miata Metals via email at info@miatametals.com or call +1 778 488 9754.
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