Infinite Ore Launches Private Placement
Infinite Ore Corp. has announced a non-brokered private placement, issuing 50 million units at $0.06 each, aiming for gross proceeds of $3 million.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Infinite Ore Corp. has announced a non-brokered private placement, issuing 50 million units at $0.06 each, aiming for gross proceeds of $3 million. Each unit consists of one common share and one transferable share purchase warrant, allowing holders to purchase additional shares at $0.10 within 24 months. Funds from this offering will be allocated to exploration activities at the Jackpot Lithium project and for working capital. The offering awaits TSX Venture Exchange approval, and finder’s fees may apply.
Positive
- Successfully arranging a private placement of 50 million units at $0.06 each, potentially raising $3 million.
- Funds will support exploration at the Jackpot Lithium project, indicating growth and development potential.
Negative
- None.
Details
News Market Reaction – ARXRF
The recorded move for ARXRF in the trading session of this news was -7.37%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESSWIRE / November 9, 2021 / Infinite Ore Corp. (the "Company") (TSXV:ILI)(OTCQB:ARXRF) announces that it has arranged a non-brokered private placement of 50 million units ("Units") at a price of
Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.
These offerings are subject to TSX Venture Exchange acceptance.
About Infinite Ore Corp.
Infinite Ore is a junior mining exploration company focused on seeking and acquiring world-class mineral projects. The company is focused on the exploration and development of its
ON BEHALF OF THE BOARD
"J.C. St-Amour"
J.C. St-Amour, President
FOR FURTHER INFORMATION, PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward -looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).
SOURCE: Infinite Ore Corp.
View source version on accesswire.com:
https://www.accesswire.com/671825/Infinite-Ore-Launches-Private-Placement
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