Zonte Metals Completes $250K Private Placement Tranche, Expands Offering Due to Demand
EREPF has more than doubled off its 52-week low of $0.02 on light trading volume (0.3× avg).
Summary
Zonte Metals completed the first tranche of its non-brokered private placement, raising $250,000 by issuing 2.5 million units at $0.10 each. This follows the May 26th announcement of the offering. Each unit includes a common share and half a warrant exercisable at $0.15. Due to additional demand, the company also increased the potential size of the offering by up to 1.5 million additional units, which could bring in another $150,000. This capital infusion provides critical working capital for the junior exploration company and the increased demand signals investor confidence.
At the time of this announcement, EREPF was trading at $0.07 on OTC in the Industrial Applications And Services sector, with a market capitalization of approximately $6M. The 52-week trading range was $0.02 to $0.28. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: TheNewswire.