SKRR Exploration (TSXV: SKRR) has closed its outstanding private placement. Announced mid-day yesterday, the company has raised approximately $2.0 million from the sale of both common shares as well as flow through shares.
A total of 6.1 million flow through common shares were sold by the company at a price of $0.30 per flow through share, raising gross proceeds of $1.8 million. A private placement conducted concurrently meanwhile sale 0.8 million units of the company sold at a price of $0.27 per unit.
Each unit contained one common share and one half of a common share purchase warrant, with each warrant valid for a period of two years from the date of issuance at a price of $0.40 per share.
Proceeds from the financing are to be used for exploration expenditures as well as working capital and general corporate purposes.
“The entire SKRR team looks forward to continued discovery success in 2021. We are well funded for the current drilling within the discovery zone of the Olson project, and assays are pending on the exciting Leland project, which is in close proximity to the SSR Mining/Taiga Gold Fisher project.”Sherman Dahl, CEO of SKRR Exploration
SKRR Exploration last traded at $0.28 on the TSX Venture.
FULL DISCLOSURE: SKRR Exploration is a client of Canacom Group, the parent company of The Deep Dive. The company has been compensated to cover SKRR Exploration on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.