https://www.engineeringnews.co.za
Business|Exploration|Flow|Testing|Flow
Business|Exploration|Flow|Testing|Flow
business|exploration|flow-company|testing|flow-industry-term

Patriot to raise C$75m in flow-through placement

22nd May 2024

By: Creamer Media Reporter

     

Font size: - +

Canada-focused Patriot Battery Metals said on Tuesday that it planned to capitalise on the advantageous flow-through financing conditions by executing a C$14.54-a-share private placement to raise C$75-million.

The issue price represents a 51% premium to the company’s last closing price on the TSX on May 17.  

Patriot said it was acting decisively owing to the recent measures announced in the 2024 Canadian federal Budget, which are due to take effect on June 25, and are expected to reduce future flow-through premiums to exploration companies.

“We are delighted by the very strong support from existing and new institutional and sophisticated investors for the flow-through offering.

“With a strengthened balance sheet, Patriot is now positioned to continue its exploration and study work at Corvette, aimed at further growing the Corvette mineral resource and testing a number of high-priority targets within the company’s broader landholding, and drive the business through to production,” said MD Ken Brinsden.

Edited by Creamer Media Reporter

Comments

Showroom

John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 
Victaulic
Victaulic

Since 1919, Victaulic’s innovative solutions and design services continue to increase construction productivity and reduce risk, ensuring projects...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Economic growth a top priority for GNU
Economic growth a top priority for GNU
19th July 2024 By: Creamer Media Reporter
Magazine round up | 19 July 2024
Magazine round up | 19 July 2024
19th July 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.24 0.298s - 192pq - 2rq
Subscribe Now