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WHITE ROCK, BRITISH COLUMBIA - Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNRF) announced Monday a non-brokered private placement to raise up to C$2 million through a combination of flow-through shares and non-flow-through units.
The offering consists of up to C$1.5 million in flow-through common shares priced at C$0.07 each and up to C$500,000 in non-flow-through units at C$0.06 per unit. Each non-flow-through unit includes one common share and one purchase warrant exercisable at C$0.09 for 24 months, subject to acceleration provisions.
Proceeds from the flow-through shares will fund exploration at the company's Laird Lake and Oneman Lake projects in Ontario, qualifying as "flow-through critical mineral mining expenditures" under Canadian tax law. The non-flow-through proceeds will support additional exploration work and general corporate purposes.
The offering is expected to close in tranches, with the first closing anticipated by late November, subject to regulatory approvals. All securities issued will carry a four-month and one-day hold period from issuance.
The company also indicated it is considering a share consolidation following the offering, likely before its planned drilling campaign in the first quarter of 2026.
Athena Gold focuses on precious and base metal exploration in North America. Its flagship Laird Lake project in Ontario's Red Lake Gold District covers over 7,000 hectares, while its Excelsior Springs Project is located in Nevada's Walker Lane Trend.
The information in this article is based on a company press release statement.
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