Aztec Minerals Closes Upsized C$6.4M Bought Deal, Full Underwriter Option Exercised
AZZTF has more than doubled off its 52-week low of $0.125 on light trading volume (0.1× avg).
Summary
Aztec Minerals closed its bought deal private placement, raising C$6.4 million after the underwriter fully exercised its option. The company sold 20.01 million units at C$0.32 each, with each unit including a half warrant exercisable at C$0.42 for 24 months. Proceeds will fund exploration at the Tombstone gold-silver and Cervantes gold-copper projects. The full exercise of the underwriter's option signals strong demand for the offering, and the financing provides meaningful capital for advancing both projects.
At the time of this announcement, AZZTF was trading at $0.27 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $51.5M. The 52-week trading range was $0.13 to $0.34. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: ACCESS Newswire.