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Cosa Closes Upsized C$7.5 Million Private Placement
Newsfile· 2025-12-04 14:25
Core Viewpoint - Cosa Resources Corp. has successfully closed a brokered private placement, raising C$7,500,000.74, with significant participation from its largest shareholder, Denison Mines Corp. [1][2] Group 1: Offering Details - The Offering consisted of 11,538,462 hard dollar units at C$0.26 per unit, 7,537,690 charity flow-through units at C$0.398 per unit, and 5,000,000 flow-through common shares at C$0.30 per share [3][4] - The net proceeds from the sale of units will be used for exploration and working capital, while proceeds from charity flow-through units and flow-through shares will fund eligible Canadian exploration expenses related to uranium projects in the Athabasca Basin [5] Group 2: Shareholder Participation - Denison Mines Corp. participated in the Offering, increasing its ownership in Cosa to 18.59% on a partially-diluted basis [2] - Denison, with a market capitalization of approximately C$3 billion, is focused on advancing the Wheeler River project, one of the largest undeveloped uranium mining projects in the Athabasca Basin [2] Group 3: Insider Transactions - Certain directors and officers of Cosa and Denison subscribed for a total of 2,607,692 units and 616,669 flow-through shares, raising C$863,000.62 [8] - This participation is classified as a related-party transaction, exempt from formal valuation and minority approval requirements due to the transaction's size [8] Group 4: Future Plans - Cosa's focus for 2026 includes drilling at the Darby and Murphy Lake North projects, which are joint ventures with Denison [14] - Drilling at Darby will target areas with historical mineralization, while Murphy Lake North will follow up on previous drilling results that indicated broad zones of alteration [14]
PTX Metals Inc. Announces Final Closing of Private Placement
Newsfile· 2025-10-14 12:45
Core Points - PTX Metals Inc. has successfully closed the fourth and final tranche of its non-brokered private placement, raising a total of $413,389.98 in this tranche alone [1] - The total proceeds raised from the entire private placement amounted to $6,649,604.80, which included various types of units issued [1] - The company plans to utilize the proceeds from the hard dollar units for general corporate expenses and working capital [5] Summary by Category Financial Details - In the fourth tranche, PTX issued 529,185 flow-through units at $0.135 each, generating gross proceeds of $71,439.98 [1] - Additionally, 3,419,500 hard dollar units were issued at $0.10 each, resulting in gross proceeds of $341,950 [1] - The total amount raised from the issuance of charity flow-through units, flow-through units, and hard dollar units was significant, with 15,000,000 charity flow-through units and 30,000,000 hard dollar units included in the overall total [1] Finder's Fees and Warrants - The company paid $52,534.55 in finders fees and issued 966,251 finder warrants, allowing holders to purchase common shares at $0.14 for two years [2] - The finders warrants are subject to a statutory hold period of four months and one day [2] Use of Proceeds - Proceeds from the charity flow-through units will be allocated to eligible Canadian exploration expenses related to the company's projects in Ontario [6] - The company intends to incur qualifying expenditures by December 31, 2026, with renouncement to initial purchasers by December 31, 2025 [6] Insider Participation - Jean-David Moore, a director of the company, purchased 150,000 hard dollar units, which is classified as a related party transaction [7] - The company is relying on exemptions from valuation and minority approval requirements due to the limited impact of the insider's participation on the overall market capitalization [7] Company Overview - PTX Metals Inc. is focused on mineral exploration in northern Ontario, targeting strategic metals such as Copper, Gold, Nickel, and PGEs [8] - The company aims to advance its flagship projects, including the W2 Cu-Ni-PGE project and the Shining Tree Gold Project [9]