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Verde AgriTech Announces Closing of $4.5 Million LIFE Financing With Majority Subscribed by Leading Resources Institutional Investor
Globenewswire· 2026-03-12 17:15
Core Viewpoint - Verde AgriTech Ltd. has successfully closed a brokered private placement, raising a total of $4,500,000 through the issuance of 3,750,000 units at a price of $1.20 per unit, primarily subscribed by a leading institutional investor [1] Group 1: Offering Details - The offering consists of units, each comprising one ordinary share and one share purchase warrant, with the warrant allowing the purchase of an additional share at $1.65 for 30 months [2] - The offering was conducted under the listed issuer financing exemption, allowing the securities to be distributed without a hold period in certain Canadian provinces [3] - The agent received a cash commission of 6.0% of the gross proceeds and was issued non-transferable broker warrants representing 3.0% of the units sold [4] Group 2: Use of Proceeds - The net proceeds from the offering will be used to accelerate work on the Minas Americas Global Alliance rare earth project, including resource definition drilling and metallurgy optimization, as well as for working capital and general corporate purposes [5] Group 3: Company Overview - Verde AgriTech is a Brazil-focused specialty fertilizer company listed on the TSX and OTCQX, advancing the Minas Americas Global Alliance rare earth project in Minas Gerais [8]