Welcome to our dedicated page for INFINITUM COPPER news (Ticker: INUMF), a resource for investors and traders seeking the latest updates and insights on INFINITUM COPPER stock.
Infinitum Copper Corp. (INUMF) generates news primarily through updates on its copper-focused exploration projects and related corporate developments. Its disclosures emphasize work at the La Adelita copper-silver-gold project in the Mexican states of Sonora and Sinaloa, characterized as a Carbonate Replacement Deposit in a historically mineralized district, and its optioned interest in the Hot Breccia project in the Arizona Copper Belt, which is described as prospective for porphyry copper and copper skarn mineralization.
News releases from Infinitum Copper cover a range of project milestones and technical steps. For La Adelita, the company has reported mobilizing equipment, clearing access to historic underground workings, and planning an access tunnel to intersect mineralized bodies identified in prior drilling. It has also discussed potential production-related decisions at La Adelita, while cautioning that such decisions are not based on NI 43-101 compliant reserve estimates or feasibility studies and therefore involve higher technical and economic risk.
Investors following INUMF news will also see coverage of corporate finance and capital markets activity, including non-brokered private placements involving units of common shares and warrants, and the stated use of proceeds for work at La Adelita and general corporate purposes. The company has announced a share consolidation on a two-for-one basis and explained how this aligns with its market objectives.
Additional news items address board and management changes, such as the appointment and resignation of directors and the appointment of a new Chief Executive Officer. Infinitum Copper has also reported a definitive share purchase agreement to sell its Mexican subsidiary holding an 80% interest in the Cerro Grande copper-gold-silver property, noting that this proposed sale would involve the majority of its assets and is subject to shareholder and exchange approval. Readers can consult this news feed for ongoing project updates, financing developments, and changes in corporate structure related to Infinitum Copper.
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Infinitum Copper Corp. successfully closed the first tranche of a C$1,500,000 private placement, garnering C$1,473,669.19 from the sale of 21,052,417 units. The second tranche, totaling C$26,330.81, is anticipated to close by April 27, 2023. CEO Matt Hudson noted strong support from investors, emphasizing the high-grade potential of the La Adelita project. Funds raised will support ongoing exploration at Cerro Grande and initiate drilling at the Sangre del Toro feature, which previously returned 9.15m of 16.45g/t Au and 1.9% Cu. Additionally, the company granted 1,000,000 incentive stock options to the CEO, priced at C$0.08 per share, expiring in five years.
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