Saturn Minerals Inc. (TSXV: SMI.V) closed a nonbrokered private placement of 5,560,000 units, at 12 cents each, for CA$678,000 in proceeds, the company said Feb. 7.
Proceeds will fund Saturn Mineral’s working capital, the company said.
Units in the placement consist of one common share and half of a share purchase warrant, the company said, noting that whole warrants allow one additional share to be purchased. These additional shares are exercisable for 24 months from the issue date at 15 cents each, the company added.
Additionally, Saturn Minerals detailed a ...