Infinitum Copper Corp. has successfully closed its non-brokered private placement financing, raising $450,000 through the issuance of 11,250,000 units at a price of $0.04 per unit. The company plans to utilize these funds to restart operations at La Adelita, clearing a path to the existing adit at Cerro Grande and beginning construction of a drive to access the mineralized body identified in earlier drilling campaigns.
Matt Hudson, the president, and CEO of Infinitum Copper Corp., expressed his excitement about the closing of the financing, stating that the funds raised will enable the company to take significant steps towards accessing valuable mineral resources and potentially engaging in material sales to interested groups. He emphasized the importance of high-grade material in enhancing the recovery of lower-grade material in a flotation circuit.
The completion of the offering is subject to various approvals, including the approval of the TSX-V. Certain company insiders participated in the offering, which is considered a related party transaction. However, the company has obtained exemptions from the formal valuation and minority approval requirements for these transactions.
Infinitum Copper Corp. is focused on advancing projects like La Adelita in Mexico and the Hot Breccia project in Arizona, both rich in copper, silver, and gold deposits. The company’s forward-looking statements emphasize the potential risks and uncertainties associated with the mining business.
For more information on this press release, visit: https://www.newsfilecorp.com/release/212059.
