Viridian Metals (VIRMF) announced a non-brokered private placement seeking up to $5,000,000 through a combination of flow-through and non-flow-through units.
Flow-through units cost $0.80 each; non-flow-through units cost $0.68. Each includes one common share and half a warrant. Whole warrants buy one share at $1.25 for flow-through units or $1.05 for non-flow-through units, for 24 months, subject to accelerated expiry.
Flow-through proceeds will fund eligible exploration at Kraken and/or Sedna in Labrador. Viridian intends the financing to fund drilling supporting a maiden mineral resource estimate in 2027. It expects further drill results through year-end and an Exploration Target update in January, and intends to evaluate advancing a preliminary economic assessment alongside the resource estimate. The company controls the unit mix and may increase the offering with CSE acceptance.