Pembridge Resources PLC - copper ores company - Notes that Minto Explorations Ltd has entered several agreements to go public through reverse takeover of 778 under the policies of the TSX Venture Exchange.
Minto has appointed Stifel GMP and Raymond James Ltd to advise on its listing and intent to raise up to CAD45 million through private placement. Proceeds from capital raise will go towards funding operational improvements, exploration and working capital.
On the reverse takeover, Minto will form the listed issuer which will be renamed Minto Metals Corp, and then apply to TSXV to list its shares.
The offering is expected to close in July, and the reverse takeover is set to be completed in the third quarter of 2021.
Current stock price: 6.75 pence
Year-to-date change: up 30%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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