The Prospector News

Mogotes Metals Announces Closing of First Tranche of Private Placement of Units and Upsize to Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Mogotes Metals Announces Closing of First Tranche of Private Placement of Units and Upsize to Private Placement

 

 

 

 

 

Mogotes Metals Inc. (TSX-V: MOG) (FSE: OY4) (OTCQB: MOGMF) is pleased to announce that, further to its press release of June 2, 2025, the Company has closed the first tranche of its non-brokered private placement through the issuance of 35,660,000 units at a price of $0.20 per Unit for aggregate gross proceeds of $7,132,000.

 

Each Unit is comprised of one common share and one-half of one Common Share purchase warrant. Each Warrant shall entitle the holder thereof to acquire one Common Share at a price of $0.40 per Common Share for a period of two years from the closing of the Offering.

 

Additional tranches of the Offering are expected to close shortly and are subject to regulatory approval including approval of the TSX Venture Exchange of the Braun family linked subscription, which review process is ongoing.

 

In connection with the closing of the first tranche of the Offering, the Company paid certain eligible persons a cash commission $99,600 and issued 350,000 Common Shares in lieu of a cash commission.

 

In addition, due to strong investor demand, the Company has increased the size of the Offering to up to 110,000,000 units for aggregate gross proceeds of up to $22,000,000.

 

All securities issued pursuant to the first tranche of the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation. The gross proceeds from the sale of the Units will be used for funding the Company’s exploration work programs and development of the Company’s Filo Sur property, and general working capital purposes. The closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals, including the approval of the TSX Venture Exchange.

 

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

 

About Mogotes Metals Inc.

 

Mogotes Metals Inc. is a mineral exploration company exploring for copper and gold in the prospective Vicuña district of Argentina and Chile. Mogotes flagship project, Filo Sur, adjoins the large Filo del Sol Copper-gold-silver discovery, and is along the same N-S trending belt as the Filo Del Sol – Aurora and NGEx Minerals Lunahuasi and Los Helados copper-gold deposits.

 

Posted June 17, 2025

Share this news article

MORE or "UNCATEGORIZED"


Great Pacific Gold Announces Closing of Upsized $16.9 Million Private Placement Financing Led by Canaccord Genuity Corp

Great Pacific Gold Corp. (TSX-V: GPAC) (OTCQX: FSXLF) (FSE: V3H)... READ MORE

July 3, 2025

Ridgeline Minerals Provides Assay Results and Drill Program Updates for the Big Blue and Atlas Projects

Big Blue highlights: 0.6 meters grading 0.7% Cu, 3,194 g/t Ag and... READ MORE

July 3, 2025

Goldshore Intersects 42.7m of 1.09 g/t Au at the Eastern QES Zone of the Moss Deposit

Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00)... READ MORE

July 3, 2025

Dios Sells K2 to Azimut

Dios Exploration Inc. (TSX-V: DOS) is pleased to report it has e... READ MORE

July 3, 2025

Northisle Announces Near Surface Intercepts and Higher-Grade Intercepts at Depth at West Goodspeed on its North Island Project

Highlights: Recent drilling at West Goodspeed supports the presen... READ MORE

July 3, 2025

Copyright 2025 The Prospector News