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Halcones Precious Metals Raises $550,000 in First Tranche of Private Placement

MixedLow impact
HPMCA$0.0450 12.50%

Halcones Precious Metals Corp. (TSXV: HPM) has closed the initial tranche of a non-brokered private placement offering, raising $550,000 in gross proceeds. The company issued 11.0 million units priced at $0.05 per unit. Each unit includes one common share and a 24-month warrant exercisable at $0.05. In addition, 660,000 finder warrants were issued in connection with the placement. No company insiders participated in this first phase.

The proceeds provide funding for the mineral exploration firm as it moves forward with its plans. Halcones Precious Metals Corp. intends to allocate the proceeds toward securing Polaris project rights, conducting exploration work in Chile, and supporting general administrative working capital. Shares of the company moved up 12.50% to 0.045 CAD following the financing news.

Looking ahead, final completion of the private placement remains subject to regulatory approval from the TSX Venture Exchange. The company expects to close a final tranche of the financing next week. Investors will also be tracking future developments surrounding surface rights acquisition and project de-risking milestones in Chile.

Key points

  • Halcones Precious Metals Corp. raised $550,000 by issuing 11.0 million units at $0.05 per unit.
  • Each unit includes a 24-month warrant exercisable at $0.05, alongside 660,000 finder warrants issued.
  • Proceeds will fund Polaris rights, exploration in Chile, and general administrative expenses.
  • Final regulatory approval from the TSX Venture Exchange is pending, with the final tranche expected next week.

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Questions and answers

How much money did Halcones Precious Metals Corp. raise?

Halcones Precious Metals Corp. raised $550,000 in the first tranche of its non-brokered private placement by issuing 11.0 million units at $0.05 each.

What will the funding be used for?

The capital will be used to secure Polaris project rights, fund exploration activities in Chile, and cover general administrative and working capital costs.

When is the financing expected to finish closing?

The company expects to close the final tranche of its private placement next week, pending final approval from the TSX Venture Exchange.